Alerts5.18.20
SBA Releases Loan Forgiveness Application and Instructions, Plus Rule For Foreign Affiliates
Highlights
The new SBA Loan Forgiveness Application and Instructions provide clarity on certain aspects of PPP loan forgiveness determination and the process
Helpful guidance and the definition of some key terms are provided
A new SBA interim final rule provides safe harbor for certain loan applicants who did not include employees of foreign affiliates in eligibility determination
The Small Business Administration (SBA) recently released the Paycheck Protection Program (PPP) Loan Forgiveness Application and instructions that provide much-needed insight for PPP borrowers and lenders.
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