Repay BPI loan (COVID-19)
littleplum
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We recently took over a hotel which, due to COVID 19, is likely to remain closed for the next couple of months at least and so we have applied for the BPI loan for 25% of our turnover last year. I understand that we can defer repayments and then decide over what period we want to repay our loan. What I’m not clear on is what happens if our businesses closes before this loan is repaid. We created a SARL with 1k鈧� capital and I guess the loan would be in the business name. Would we personally be obliged to repay any outstanding balance?
many thanks