PPP Loan info..

So i thought i would share some Info on the PPP Loan...
If you get approved this month your first payment doesn't start till Dec.
Interest rate of 1%
My loan will be paid back in 18 payments if i don't pay myself 75%...
Loan payments of $630 a month with the first payment in Dec.. IF you are late its $150 late fee
At 1% interest thats some cheap money so make sure to apply if you need it. Even if you don't use it for Payroll pay off some higher loans u might have and then just pay back the PPP loan lol

 

Correct just a little over 11k I got an APU loan thats got a higher interest on it. Gonna hold the money for 5-6 weeks in the bank just in-case the gov does something weird then by the 8th week ill have it spent. I Got that plus some put back but hey its hard to pass up on almost free money like that. Plus plenty of ways to not have to pay that back for example pay urself 75% then use the other 25% on a lease and bam free 11k xD

 

That's the million dollar question. I'm gonna use my P&L and my bank statement showing i sent it to my Personal account lol

 

I Figure transfer $1,000 a week and that should be good Money still won't be spent till im ready to spend it but its still there. My biggest problem i have a habit on just using my business card instead of transferring money to my personal account lol