PPP loan forgiveness application released. What now?

On Friday, May 15, the Small Business Administration (SBA) released the Paycheck Protection Program (PPP) loan forgiveness application with some new rules and guidance for business owners and not-for-profits. They must complete this form to apply for forgiveness of their PPP loan.

Watch our complimentary on-demand webinar for an overview of the application form along with some insights and takeaways from our PPP loan specialists. They discuss questions yet to be answered by the SBA and what further guidance borrowers can hope for.

Topics also include:

• The standard 8-week covered period and the new alternative covered period
• The treatment of non-payroll costs
• The FTE reduction and safe harbor
• The salary/wage reduction and safe harbor

• Click here to read more about PPP forgiveness
• Request the PPP good faith certification considerations and documentation template
• Baker Tilly has a comprehensive set of solutions available to assist qualifying businesses that have received, or will receive, loan proceeds that may be eligible for forgiveness under the Paycheck Protection Program.
• FAQ on the CARES Act
• Baker Tilly specialists understand your industry and how an unplanned event such as the COVID-19 outbreak can affect your organization, employees, customers and suppliers.

For more information on this topic, or to learn how Baker Tilly specialists can help, contact our team.