I'm not sure how one could form an LLC and get the loan. One of the requirements is that your business had to exist before they started writing the law. I think February 25th was the cutoff but I'm not sure.
I imagine that they’re really talking about shell LLCs that people have to do personal things for various reasons, that have no payroll, and perhaps no assets, apply for a PPP, because they’re legally a company.
If you don't have payroll then you don't qualify for this program. Even if you get the loan, it's not forgiven unless it's used for qualified expenses and at least 75% has to go to payroll costs.
