*The PPP Guide will be constantly updated to reflect additional information as it is released. Please remember to check back for more information. This guide is effective as of August 18, 2020.
As a business owner you want your primary focus to be on running your business. In these trying times, your attention is redirected to a number of different tasks. You applied for and received a Paycheck Protection Program loan in order to assist in keeping your employees amidst the myriad of unclear and clarified guidance which has been issued.
In the middle of all of this, the PPP forgiveness application was initially released by the SBA and Treasury on May 15, 2020, and amended and updated through the Paycheck Protection Program Flexibility Act of 2020 in June. Based on the new Act, your forgiveness application will be due likely in the next six months. With all of the uncertainty surrounding the program, there are definitive steps that you can do today to prepare for your forgiveness application so you can understand the impact of this on your business.
This guide is an overview of the process that you can start today with timelines available to help you through the PPP forgiveness application process.