The Paycheck Protection Program (PPP) created
by the CARES Act prohibits borrowers from taking out two loans for the same purpose. If you are able to secure a PPP loan, the $10,000 EIDL grant will be subtracted from the PPP forgiveness amount.
PAYCHECK PROTECTION PROGRAM (PPP)
Small business owners, self-employed individuals, and other eligible applicants who have been affected by the coronavirus might find relief with a Paycheck Protection Program (PPP) loan. For more information, please click the QuickBooks icon below.