The Latest Guidance on PPP
Recent Announcements and News:
- FinCEN Updated FAQs (Released 2/1/21)
- Procedural Notice: SBA Paycheck Protection Platform Procedures for Addressing Unresolved Issues on Borrower First Draw PPP Loans (Released 1/27/2021)
- Interim Final Rule on Loan Forgiveness Requirements and Loan Review Procedures as Amended by Economic Aid Act (Released 1/19/2021)
- PPP Loan Forgiveness Application Form 3508 (Revised 1/19/21)
- PPP Loan Forgiveness Application Form 3508EZ (Revised 1/19/21)
- PPP Loan Forgiveness Application Form 3508S (Revised 1/19/21)
- Borrower’s Disclosure of Certain Controlling Interests (Released 1/19/2021)
- Second Draw Paycheck Protection Program (PPP) Loans: How to Calculate Revenue Reduction and Maximum Loan Amounts Including What Documentation to Provide (Released 1/19/2021)
Reminder – First Draw PPP Loans Under Review May Be Delayed Getting Second Draw PPP Loan number
- How to Calculate Maximum Loan Amounts for First Draw PPP Loans and What Documentation to Provide – By Business Type (Released 1/17/2021)
- Procedural Notice – Paycheck Protection Program Excess Loan Amount Errors (Released 1/15/21)
Helpful Reminder for This Round of PPP – Make sure the PPP First Draw Loan number is included in the Second Draw PPP Loan application