Small business owners that are receiving Paycheck Protection Program assistance could soon experience some difficulties staying afloat. While the Treasury Department is managing the loan fund, the banks are having difficulties proving that the loans met the ever-changing government requirements. This is creating a potential larger amount of debt on businesses who thought these amounts would be forgiven after the slow of COVID. Banks are now seeing just how complicated things are and will continue to be after numerous businesses are planning to ask for their eight-week loan forgiveness.
Are you struggling financially? Contact our office at 816-524-4949 or you can visit our website at hoorfarlaw.com to schedule an appointment so we can help.