August 4, 2020
Do I need to choose the eight-week or 24-week forgiveness time frame? My loan was issued on April 20 and I plan on using the EZ application form.
Posted by Armanino Financial Advisory Team
Only you can answer this question, because it’s your choice. If you spent all your loan proceeds in eight weeks, there isn’t much point in waiting for 24 weeks to file your application, but you do have that option. Conversely, if you needed more than eight weeks to complete spending your PPP money, you probably would want to choose the 24-week Covered Period unless you want to skip getting forgiveness and would rather pay the money back to the bank.