Exactly how much could I borrow?
Qualified entities are entitled to borrow 2.5 times their typical month-to-month payroll expenses or as much as ten dollars million, whichever amount is less. This quantity is supposed to simply help protect eight days of payroll costs along with home loan interest, lease, and resources. Congress stretched the total amount of time that borrowers need to invest their PPP loans.
So what can the mortgage be properly used for?
The mortgage could be used to spend: