Have you received  your SBA Paycheck Protection Program Funds? Congratulations, I’m so excited for you! It’s a great opportunity to take advantage of a loan that could potentially be forgiven. So now what? How do we get there? How do we make sure that our loans are forgiven and we comply with the terms of the agreement? Not everybody is going to have this opportunity to receive these funds. So I want to make sure that you all have the opportunity to take advantage of bringing employees back. Keeping employees on your payroll so that they can ensure that your business will thrive, that their families will thrive during this difficult time. So what are some of the ways that we can comply with the terms could open up a bank account to put the funds into. You can ask your payroll company to deduct payroll from this new bank account. You will utilize your COVID-19 folder and you will place your payroll journals, any rent payments, utility payments into this folder. Because what’s going to happen is at the end of June, July, within the next six months, the term of your note with the SBA, the SBA will come back to you and ask to see documentation that you’ve spent the funds appropriately. Remember, a minimum of 75% of the funds must be spent on payroll. You also have the opportunity to pay utilities and rent expenses out of these funds. So ideally, we meet these requirements. If we meet these requirements, then we have fantastic opportunities to have this loan converted to a grant and therefore, we do not have to repay it. So please take advantage of this opportunity to comply with the terms from my business here, our profitability path to yours. Stay healthy and stay safe!