A guideline for small businesses and lenders on use of funds, and calculating, documenting, and applying for the amount of loan forgiveness for Paycheck Protection Program Loans (“PPP Loans”)
PPP Loans can be forgiven in whole or in part. The actual amount of loan forgiveness can be up to the full principal amount of the loan and any accrued interest. PPP Loan proceeds used during the eight‑week covered period can be forgiven, if : PPP Loan proceeds are spent on forgivable payroll costs and forgivable non‑payroll […]