FAQ#: 244 published 4-23-2020
4-15-2020 Docket No. SBA-2020-0015: Interim Final Rule Paycheck Protection Program HR 748 CARES Act. involves the SBA, US Treasury Department and the banking Industry.
Loan forgiveness applies to covered period of the loan only.
E. CAN SBA PURCHASE SOME OR ALL OF THE LOAN IN ADVANCE?
"The expected forgiveness amount is the amount of loan principal the lender reasonably expects the borrower to expend on payroll costs, covered mortgage interest, covered rent, and covered utility payments during the eight week period after loan disbursement."
You may submit comments, identified by number SBA-2020-0015 through the Federal eRulemaking Portal: https://www.regulations.gov/docket?D=SBA-2020-0015 . Follow the instructions for submitting comments.
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