NEWS ARTICLES

SBA Updates FAQs on Paycheck Protection Program: Borrower Good Faith Certifications

Posted By Chada Trithavornyuenyong on April 24, 2020 in Economy

On April 23, the U.S. Treasury Department and the U.S. Small Business Administration (SBA) updated an FAQ document addressing borrower and lender questions concerning implementation of the Paycheck Protection Program (PPP).

The FAQ document provides answers to many commonly asked questions relating to payroll cost calculations, eligible businesses (including small business concerns), the exclusion of compensation in excess of $100,000, affiliations and certain SBA application requirements.

This most recent updated FAQ provides noteworthy guidance relating to the following question: Do businesses owned by large companies with adequate sources of liquidity to support the business’s ongoing operations qualify for a PPP loan?

Paycheck Protection Program Loans (FAQ)

NEWS CATEGORIES