re: question regarding approval of my PPP application and 1% loan

denisecorc
New Community Member

Hi,

 

I got approved for PPP through PayPal and funds were deposited early this week.Without my awareness until this weekend, my PUA application was also approved prior to PPP approval.

 

I know I can't double-dip, Nor would that be in integrity with myself.  Financially I do better with PUA so will utilize those funds.

 

QUESTION:  Do I have to return the PPP money now?  If so, how do I do that or who do I contact?  Or can I hold off in using PPP funds, not ask for forgiveness and use the money as a 1% loan to my business for other business expenses not related to payroll or utilities?

 

Thanks for all your support of small businesses.

 

Thanks,

Denise

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