by SKDOLast week, the SBA issued a set of FAQs regarding PPP Loan Forgiveness. The list contained some new information but did not address some of the most important questions Borrowers have, like what the reduction factors and wage limitations look like if borrowers apply for forgiveness before the full 8 or 24 weeks are up. […]
by SKDOThe SBA issued 2 new sets of guidelines on June 23 and 24th that have provided some of the answers we’ve been waiting for. We’ve summarized the main points below. Submitting an application—The SBA has stated that a borrower may apply for forgiveness at any point during their 8- or 24-week covered period. The deadline […]
by SKDOLast Friday night, the SBA released the PPP Loan Forgiveness application and related instructions. It was our hope that the radio silence from the SBA and US Treasury on the forgiveness piece meant that we would be getting guidance that would provide more answers. Instead, after being 20 days past their deadline, they’ve provided an extremely complex […]
by SKDOAs you may have seen in the news, the launch of the Paycheck Protection Program application process has been chaotic and full of uncertainty. The Treasury published the two-page application form Tuesday night but failed to provide lenders with detailed guidance needed to actually administer the loans. Thursday evening (4/2/20) after business hours, the SBA […]
by SKDOOn March 31, 2020 the U.S. Department of the Treasury released the application for the much anticipated Paycheck Protection Program loan. As noted in our COVID-19 Loan Summary below, we expected this loan to be extremely popular due to its ability to be forgiven; therefore, we are providing additional information on this particular opportunity. While […]