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SBA Hot Topic Tuesday — PPP Forgiveness FAQs as of August 4, 2020

August 4, 2020

By Bob Coleman
Editor, SBA Hot Topic Tuesday

SBA Hot Topic Tuesday — PPP Forgiveness FAQs as of August 4, 2020

Today, the Small Business Administration (SBA), in consultation with the Department of the Treasury, provided guidance to address borrower and lender questions concerning forgiveness of Paycheck Protection Program (PPP) loans.

The FAQ guidance is broken up into the following sections:
General Loan Forgiveness FAQs
Loan Forgiveness Payroll Costs FAQs
Loan Forgiveness Nonpayroll Costs FAQs
Loan Forgiveness Reductions FAQs

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”)

Download Frequently Asked Questions (FAQs) on PPP Loan Forgiveness as of August 4, 2020

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