PPP escrow accounts

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by a searcher from Dartmouth College - Tuck School of Business at Dartmouth
in Boston, MA, USA

5yrs ago

PPP escrow accounts

Has anybody else escrowed PPP funds because they sold their business before forgiveness was granted? If so, what interest rate was applied to your escrowed funds?

Thanks!

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reply by a professional 5yrs ago
from Marquette University in Kirkland, WA, USA

I had a couple client deals with escrow accounts for PPP loans. They were standard savings accounts and not much more is needed as it's to be very short term.