Quoted from benheck:Does PPP cover a business who can not pay their employees because of COVID induced parts shortage? (which results in line layoffs)
Don't you have to retain all employees at the end of the period to be eligible for forgiveness?
Is the location of said business considered when granting the loan, ie Texas (barely closed) vs CA? (barely open)
Location doesn’t matter.
Here is a good summary of new PPP rules Ben
https://www.fundingcircle.com/us/resources/3-essential-ppp-loan-forgiveness-rules-to-follow/
Note that YES you must maintain headcount for forgiveness.
However, if you can’t do that and can’t repay the loan then bankruptcy is in the cards and it doesn’t matter