Here’s what happens if a business closes after receiving a Here's what happens if a business closes after receiving a Can I get a PPP loan if my business lost money last year How to Get a PPP Loan if I Start a Business in 2021 17/01/2021 · If you had to close your business between February 15, 2020 and April 26, 2020, but have reopened, you may still qualify for PPP loans. For businesses that went out of business prior to that time period, you aren’t eligible for this program. If your business has permanently closed, you’re not eligible for the PPP loan program, ;· If that’s the case, if you shut down the business, you will have to step up and guarantee the loan. That means you’re personally on the hook for the SBA loan. If the loan is over $25,000 but under $200,000, then there will be collateral that the government has a lien ;· If you're aiming to close your business and can't repay your PPP loan, you might consider filing for bankruptcy. Generally, loans of this nature can be discharged during the …10/06/2021 · The SBA (Small Business Administration) has closed the doors on the PPP (Paycheck Protection Program), so new applicants can't get a PPP loan. However, there are other options available.

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