Mike Miller quoted on Paycheck Protection Program Forgiveness Considerations
Charlotte Corporate Member Mike Miller was quoted in the Charlotte Business Journal article titled, “North Carolina attorneys on what businesses should watch as PPP issues linger” which was published May 28. Small business owners, including those in Charlotte, scrambled to secure PPP funding as Covid-19 led to a wave of mandated closings. Businesses and their lenders were forced to move ahead quickly as limited guidance trickled in.
Miller stated, "In addition to all of the other things [small businesses] have going on, they get to worry about whether they're doing the right thing by this over 1,000-page act with all the guidance that's been attached to it."
Additionally, Miller said it's important for businesses to keep detailed records — "not good records, great records.” That includes invoices, pay stubs and other evidence of spending. Businesses also need to record the spending dates, he said. They should expect the SBA to ask for this information.Please click here to view the complete article.