Crain’s Cleveland Business quoted Managing Director Dawn Minotas and Tax Partner Michael Maksymiw in an article about streamlined PPP forgiveness for loans less than $50,000.
Crain’s Cleveland Business
By Jeremy Nobile
The impact of a reduction in forgiveness is significantly higher for loans $50,000 and less on businesses that do involve more than one employee. A business with five employees that has to lay off just one employee would result in a 20% reduction in forgiveness, which could be financially significant to that business.
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