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FAQs Under The Paycheck Protection Program

April 07, 2020

As guidance continues to evolve, the Treasury Department has set up a Frequently Asked Questions (“FAQs”) page on their website. This addition allows the SBA and Treasury to provide timely additional guidance to address borrower and lender questions about the PPP, covering topics such as lender verification requirements, qualification for eligibility using the alternative “small business concern” standard, affiliation rules, time periods and eligible income used to calculate loan amount and forgiveness, and treatment of applications filed prior to the issuance of the Final Rule.

Here is a link to the Treasury Department FAQs:

Paycheck Protection Program – Frequently Asked Questions

 

More Information from Farrell Fritz

For more information on the Paycheck Protection Program, please visit: https://www.farrellfritz.com/paycheck-protection-program-what-you-need-to-know/

COVID-19 Crisis Response and Help

To access a special report on The CARES Act by Tax Partner, Lou Vlahos, please visit: https://www.farrellfritz.com/coronavirus-aid-relief-and-economic-security-act-impact-summary/

For additional resources, please visit the Farrell Fritz COVID-19 Crisis Response and Help page: https://www.farrellfritz.com/covid-19-update/

For other Business Resource & Recovery opportunities, please visit: https://www.farrellfritz.com/business-resources-and-recovery/

 

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