THE SMALL BUSINESS LEGISLATIVE COUNCIL
ALERT
MAY 19, 2020
                                  
 
 
 
 
 

On Friday, the Small Business Administration (SBA) released the application that businesses will submit to their lender to apply to have their Paycheck Protection Program (PPP) loans forgiven. The application, which is accompanied by a number of worksheets and instructional pages, provides clarity on a number of critical questions that were facing PPP loan recipients.


There are still some open questions and we anticipate that, in addition to the application document, the SBA will be releasing interim rules relating to the loan forgiveness provisions. In the meantime, businesses that received a PPP loan, are well advised to review the application and accompanying guidance as soon as possible, rather than waiting until the end of their loan period, in order to identify and take any necessary steps to ensure and maximize loan forgiveness.


Click on the link below to see the biggest takeaways from the application.

 
 
SBA Alert Summary
 
 
Jim Johnson
President 

 
 
 
 
 
 
National Electrical Manufacturers Representatives Association
1905 South New Market St, Suite 257 • Carmel, IN 46032  •  Tel: (317) 975-1999
www.nemra.org  •  nemra@nemra.org 
 
 
    
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