BRAC’s May 18 COVID-19 Brief: PPP Forgiveness Application now Available

The SBA has released the application for the federal Paycheck Protection Program (PPP) loan forgiveness and instructions for borrowers. The portion of PPP loans spent on payroll and other eligible expenses during the eight-week period immediately following a borrower’s draw on the loan are 100% forgivable. The newly released instructions provide guidance on the fulltime employee reduction exemption and safe harbor, both of which are further explained in BRAC’s latest analysis.

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