One of the programs instituted by the federal government in response to the outbreak of COVID-19 aimed at helping small businesses recover from the economic impact of the ongoing pandemic is the Paycheck Protection Program (“PPP”).
The latest update includes the addition of FAQ 84, which helps clarify loan forgiveness for loans over $2 million.
This version includes one new FAQ #84, which introduces the proposed new Loan Forgiveness Questionnaires and discusses what will generally be covered by them. We expect to receive more guidance and instructions on how to complete the forms once they are officially published.
FAQ #84: What are the loan necessity questionnaires?
Download the updated SMACNA Paycheck Protection Program FAQ (as of 11/5/2020).