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Additional guidance released on PPP

Written on Aug 6, 2020

The U.S. Small Business Administration, in consultation with the Department of the Treasury, has issued additional guidance addressing borrower and lender questions concerning forgiveness of Paycheck Protection Program (PPP) loans.

The guidance answers 23 frequently asked questions regarding the PPP divided into four sections: 1) general loan forgiveness (three FAQs), 2) loan forgiveness payroll costs (eight FAQs), 3) loan forgiveness nonpayroll costs (seven FAQs), and 4) loan forgiveness reductions (five FAQs).

Read the guide here.