Don't Rush to Apply for PPP Loan Forgiveness

Don't Rush to Apply for PPP Loan Forgiveness

While many Paycheck Protection Plan (PPP) recipients are eager to apply for loan forgiveness, experts are urging them to wait. The U.S. Small Business Administration (SBA) and Treasury have yet to release FAQs that many hope will address PPP-related issues, and the loan forgiveness application still needs to be revised to include the latest five-week extension of the program (the new deadline is August 8). The Journal of Accountancy published the following article offering context and advice on PPP loan forgiveness: https://www.journalofaccountancy.com/news/2020/jul/ppp-loan-forgiveness-tips.html