Do you understand the PPP forgiveness requirements?

FAQ#: 393 published 8-6-2020

Do you understand the PPP forgiveness requirements?

  • Is it required that you use 60% of your PPP loan on payroll?

  • What happens if you don't spend 60% of your PPP loan on payroll?

Read and ask questions to create a plan that works for your business regarding the usage of the PPP loan.

o. Can my PPP loan be forgiven in whole or in part?

"...partial loan forgiveness..."

page 10.

https://home.treasury.gov/system/files/136/PPP-IFR-Revisions-to-First-Interim-Final-Rule.pdf

 

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