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Updated about 4 years ago,

User Stats

23
Posts
37
Votes
Quentin Davie
  • Real Estate Agent
  • Houston, TX
37
Votes |
23
Posts

PPP left over what should I legally do?

Quentin Davie
  • Real Estate Agent
  • Houston, TX
Posted

Hello All, I received PPP loan for missed rent payments for two tenants of $6,000 each unit ($12,000 total) for 3 months of missed rent payments. The payments equaled $1,000 each ($2,000 total) for the units. We have $10,000 remaining. Legally what should be done with this money? Can it be applied to future late rent payments from units? Or can I reinvest this to the business?