> The requirements of the PPP require that at least 60% must go to salaries.
My understanding was that 60% of what you don't have to pay back goes to salary. The money that went to salaries and an additional 67% you just keep. Is that right?
No that’s not right. The company has to spend 60% on salary. Then there are a range of forgivable expenses which is a very narrow category. Any PPP funds spend on any thing else 1. Risk criminal charges of misuse of funds at the worst, or 2. Become a loan. And right now we don’t know which option, 1 or 2 the government will favor.
My understanding was that 60% of what you don't have to pay back goes to salary. The money that went to salaries and an additional 67% you just keep. Is that right?