Quote:
Originally Posted by BimmerDimmer6
Can companies pay employees minimum wage and still have the loan forgiven though? I was under the impression they were required to allocate 70% of funds towards payroll, that being their normal pay. If they were making 20 bucks an hour they should continue making that throughout PPP terms.
Could be wrong.
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The only requirements for forgiveness are that you spend 75% on payroll and keep your # of employees the same as before the virus hit.
I could cut all my employees pay 20% and still hit the 75% mark. Its purely a math equation.