COVID-19 Relief Programs: PPP Forgiveness UpdateBy Whitney Harper on 04.21.2020
Now that the first (and hopefully not the only) round of PPP Loans has been funded, many PPP Loan recipients are trying to determine the amount of their loan that will ultimately be forgiven. Although the existing rules regarding forgiveness (and reductions to forgiveness) are sparse, they do provide guidance that employers need to understand. We expect additional guidance to be issued soon, but in the meantime, we have updated our fact sheet to reflect the most current information. (Updates are in green so you can easily identify them.)
Access the updated fact sheet here.
Immediate Action Items:
As always, you are welcome to call your ADVOS lawyer with any questions you have about these programs or about other aspects of the FFCRA and CARES Act. We’re in this together and are on-call for you.
We’ll keep you posted as new information is released.
In your corner,
Whitney (+ the ADVOS team)