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 – PPP Borrower Resubmissions of Loan Forgiveness Applications Using Form 3508S, Lender Notice Responsibilities to PPP Borrowers, and Offset of Remittances to Lender for Lender Debts (Released 1/15/21)

• 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