Read on Twitter
Day 1 of #PPP is over, here’s what I’ve learned:
W2 wages only. Guaranteed payments do not apply.
Any form of documentation for your health insurance payments & retirement programs work. We just need to validate them.
Rents are not a factor of the loan calculation, but may be included in your uses of the disbursements.
When calculating the loan amount, make sure it matched your 941s/tax documentation.
If you are one of the loan submitters— the ETran loan system crashes by the time the west coast starts inputting their loans too (today, 10am MST). We’ve got teams inputting the loans during off hours since the pipe shuts down for hours after until someone fixes the crash.
