SBA Releases PPP Frequently Asked Questions

 In Employees, Human Resources, Managing COVID-19, Payroll, Tax Compliance

On August 4th, the Small Business Administration (SBA) and the Department of the Treasury released frequently asked questions concerning PPP loan forgiveness.

Borrowers and lenders may rely on the guidance provided in this document as SBA’s interpretation, in consultation with the Department of the Treasury, of the CARES Act, the Flexibility Act, and the Paycheck Protection Program Interim Final Rules (“PPP Interim Final Rules”).

The document answers questions related to:

  • General Loan Forgiveness
  • Loan Forgiveness Payroll Costs
  • Loan Forgiveness Non-Payroll Costs
  • Loan Forgiveness Reductions

Download a copy of the recently released FAQs below.

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