PPP Loan Proceeds

Have you used all PPP loan proceeds for which you or your Organization will be requesting forgiveness? Check out this handout created by the SBA.

Based on guidance from the SBA, you can apply for forgiveness any time up to the maturity date of the loan. Payments are deferred for borrower payments on PPP loans to the date that the SBA remits the borrower’s loan forgiveness amount to the lender. Or, if borrowers do not apply for forgiveness within 10 months after the last day of the covered period, then PPP loan payments are no longer deferred and borrowers will begin making loan payments to their PPP lender.


Friday, November 13, 2020