Business Owner & Commercial Investor.
Do any of the pro's here, have advise on if business owners can use PPP funds to re-invest into real estate? by josephpbrussles.j... from Belleville, New Jersey. Apr 29th 2020
Ted Ark (tark@goldmortgage.com)
#31 ranked lender in New Jersey - 37 contributions
You should consult with your CPA/Accountant regarding tracking how you spend PPP funds. You may need to proof you used the funds for specific purposes to keep your employees paid, rent, insurance, etc., I would keep the PPP funds in a separate checking account so you can provide proof that the funds were used to pay for specific business expenses as allowed per the PPP guidelines. Otherwise, you might have to repay the PPP funds if not used properly.
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