Paycheck Protection Program PPP Questions and Answers for a Select few.Published 4-28-2020

FAQ#: 251 published 4-29-2020

New PPP Questions and Answers for a Select few.
Published 4-28-2020
  • Are lenders required to use a promissory note provided by SBA or may they use their own?
  • Are lenders required to use a separate SBA Authorization document to issue PPP loans?
  • Is a hedge fund or private equity firm eligible for a PPP loan?
  • Do the SBA affiliation rules prohibit a portfolio company of a private equity fund from being eligible for a PPP loan?
  • Is a hospital owned by governmental entities eligible for a PPP loan?
  • Are businesses that receive revenue from legal gaming eligible for a PPP Loan?
  • Does participation in an employee stock ownership plan (ESOP) trigger application of the affiliation rules?
  • Does participation in an employee stock ownership plan (ESOP) trigger application of the affiliation rules?
  • and more information.
Don't just guess, guess with the correct information in hand so your forgiveness audit has a better chance of helping you stay out of the disaster debt burden zone.
 
Research Resource: Federal Register

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