After much anticipation, the SBA and US Treasury announced the release of the application form and instructions detailing how to complete the Paycheck Protection Program Loan Forgiveness Application.
The instructions provide flexibility for determining pay periods for biweekly and more frequent payrolls and clarified how the forgiveness calculations will work. Our team will continue to monitor this situation as it applies to our clients.
Click here for the application instructions and form.
To read the entire press release from the US Treasury, click here.
DISCLAIMER: The WM Daily Update COVID-19, COVID-19 Business Resources and COVID-19 Client News Alerts and other related communications are intended to provide general information on legislative COVID-19 relief measures as of the date of this communication and may reference information from reputable sources. Although our firm has made every reasonable effort to ensure that the information provided is accurate, we make no warranties, expressed or implied, on the information provided. As legislative efforts are still ongoing, we expect that there may be additional guidance and clarification from regulators that may modify some of the provisions in this communication. Some of those modifications may be significant. As such, be aware that this is not a comprehensive analysis of the subject matter covered and is not intended to provide specific recommendations to you or your business with respect to the matters addressed.