Millions of small businesses have gotten federal aid to help weather the recession caused by the coronavirus pandemic.
Despite that relief, many don’t expect to survive the crisis.
Entrepreneurs who close their doors may be wondering if they’ll be on the hook if their business received a Paycheck Protection Program loan or Economic Injury Disaster Loan.
“I think this will become one of the biggest issues [for loan recipients],” said Nick Oberheiden, a Dallas-based attorney. “I received the loan, I’m going out of business, now what happens to my loan liability?”
