Every day it seems we are faced with changing rules from the SBA, US Treasury, Congress, etc., leaving small business owners (and thier accountants) to interpret these new laws. The Paycheck Protection Program (PPP) “forgivable” loan has been an amazing program for many businesses facing a downturn in these troubling times.
An article posted in Forbes yesterday by Tony Nitti titled, Congress Agrees On Favorable Changes To Paycheck Protection Loans: What Does It Mean For Borrowers? , is an excellent source. He highlights changes to the program, final rules, and the still looming questions many businesses face.
Consult a professional before deciding how and when you are submitting your forgiveness application!