See my step-by-step instructions attached...

Call your Bank Manager. Explain the situation. I believe you would owe at least a portion, if not all of the PPP Loan money back, but I also believe the rate is like 1%...Where are you going to find a business loan at 1% right now? Nowhere, more than likely. It will not hurt you to hold onto it. You have a 6 month grace period from day received to first payment due.

In the meantime align yourself with some professionals, especially your banker, your local SBA.gov lender, etc.

Does the PPP end June 30th or does the 8 weeks apply after you receive the money?

Hello, Jelly. 

Thanks for stopping by the Community, that's an excellent question, the 8 weeks starts when you receive the loan. If you've recently received your loan then don't forget to set up and record your loan within QuickBooks. Below I've included a helpful article that lays out the process for exactly that. 

- Track how you use your PPP loan

If you need any other help or have any other questions in the meantime, feel free to reach out here. 

Thanks again and have a nice evening. 

Yea, we're still waiting for this. It's June. 

What do you mean don’t go through any steos of applying through intuit quick Books? Will my ppp be deposited into my quickbooks account 

I’m creating a quick book checking account right no because I talked to my online bank account. And they said my ppp loan might not go through with their account because they are for personal use but I’m wondering if I can apply for the ppp loan with a brand new account for it to deposited into? Do I have to have my main account that I’ve been using on the application to be approved  

I'd like to route you to the right support, Dlbrannen.

You can reach out to our PPP Support Team so they look into your account and how they can process your deposit. You can follow these steps: 

1. Log in to your QuickBooks Online account.
2. Select Capital from the left menu.
3. Click the Live Chat button at the lower-right of the page.

You can go to this link for more details on track how you use your Paycheck Protection Program loan.

Let me know if you have other questions. Take care and have a great day!

I just wanna know if I create a bank account with quickbooks if I can use that when applying for the ppp loan or do I have to use the account I’ve been using for getting paid 

Thanks for getting back in here, @Dlbrannen.

As much as I want to provide some information, there is proper support that can address your concern. They are the experts on this subject matter.

The PPP support team can help verify and advise on what account you can use in applying for the loan.

Here's how: 

1. Sign in to your QuickBooks Online account.
2. Choose Capital from the left menu.
3. Select the Live Chat button at the lower-right of the page.

I've also added these articles to learn more about the PPP loan:

• What you need to know about the Paycheck Protection Program
• Track how you use your Paycheck Protection Program loan

I'm just here if you need more help with QuickBooks. Take care and have a great day!