SBA New Loan Forgiveness Applications Released, More Guidance on Paycheck Protection Program Flexibility Act
By EsqSocial Corporation 01/07/20
Recently, the SBA released new guidance surrounding the ever-changing Paycheck Protection Program (PPP). As we recently wrote about, on June 5, 2020, borrowers received welcome news, as the PPP Flexibility Act lengthened the amount of time for borrowers to use loan proceeds from 8 to 24 weeks, reduced the amount of the loan required to be tied to payroll from 75% to 60% in order to achieve maximum forgiveness, increased the amount of time an employer must restore FTE count and salaries, and...<BR />By: <a href="https://www.jdsupra.com/profile/gould_ratner/">Gould & Ratner LLP</a>