With the moving target that is the details on the SBA’s Payroll Protection Program, it should come as little surprise clients that were able to get it now wonder if they have to pay it back, or how much. Join us and BB&T to discuss what you need to know to be prepared when completing the PPP Loan Forgiveness Application.
How do I fill out PPP forgiveness application/Process?
How do I make sure my PPP loan is forgiven?
When do I pay it back?
Application Review Process and Timeline (Financial Institution and SBA)
- Giving borrowers 24 weeks to spend the funds instead of eight
- Giving borrowers more time to rehire employees without losing forgiveness eligibility
- Extending the period of time during which borrowers can apply for forgiveness
- Documents required (Payroll, FTE and Non-payroll. This documentation will need to be submitted with the PPP Loan Forgiveness Application)