USA Accounting for SBA Loan


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Our company just received SBA Loans, I understand this will be eventually a payable item which received cash in bank and credit in liabilities. But is there anything else I need to pay attention with regards to interest rate and holding period? This is something new to me in 2020.
 
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Werner Reisacher

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It depends on the conditions under which such funds were given to you. You will find answers to those questions under the following URL
To me, the question of how the government will control the distribution of the funds that are given under the Payroll Retention program. handled.
 

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