Making Sense of PPP Loan Forgiveness

The SBA has recently provided some updates and clarification around PPP forgiveness. However, there are still significant outstanding questions and unresolved issues. We are closely keeping our eye on further announcements from the SBA and Treasury. Additionally there are new bills moving through Congress that may address some confusion. The PPP Flexibility Act recently passed in the House, and it's anticipated the Senate will take up the bill and draft a similar version. Based on these recent announcements, here is what we've learned, ongoing outstanding questions and new issues that have arisen.

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Preparing for PPP Loan Forgiveness

Many businesses across the country began to experience some relief as much needed funds were distributed to PPP loan applicants. Part of what makes this program so attractive is the generous forgiveness opportunity connected with the loan. This is the time that borrowers want to ensure they are doing everything they can to maximize their forgiveness amount.

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