Don't Let the Drama Surrounding PPP Distract You from Running Your Business

“The Paycheck Protection Program, or PPP for short, was initially passed under the CARES Act as a way to help business owners keep employees on the payroll, as well as to help cover rent while the economy was shut down. But today it’s become a bureaucratic game of Clue that has left many of my own clients, and likely countless small business owners across the country, throwing their hands in the air and wondering if it isn’t better to simply give the money back.

Perhaps they should rename it PPPSD—Paycheck Protection Program Stress Disorder.

Imagine the worst-case scenario: your PPP loan isn’t forgiven. Even in that case, that means you got a loan at a remarkably low interest rate of 1%. While I understand the reluctance to take on more debt in the current economic climate, I also see that there’s an end in sight, and the opportunity to get a loan at that rate doesn’t come along very often anywhere in the history of American lending.”

→ Don’t let the PPP tail wag the dog. Instead, learn what small business owners need to know to put the focus back on business. Kiplinger