SBA Releases PPP Loan Forgiveness FAQs
Burr Forman
AUGUST 7, 2020
For example, the Forgiveness FAQs clarify that payroll costs paid during a covered period, although incurred before that period, are eligible for forgiveness: Example : A borrower received its loan before June 5, 2020 and elects to use a 24-week Covered Period. 12 of his or her 2019 cash compensation.
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