PPP Loan PPP Loan Forgiveness Uncategorized

Loan Forgiveness Reductions FAQs

1. Question: Will a borrower be subject to a reduction to its forgiveness amount due to a reduction in FTE employees during the Covered Period if the borrower offered to rehire one or more laid off employees but the employees declined? Answer: In calculating its loan forgiveness amount, a borrower may exclude any reduction in […]

PPP Loan Uncategorized

Loan Forgiveness Payroll Costs FAQs

1. Question: Are payroll costs that were incurred during the Covered Period 1 or the Alternative Payroll Covered Period 2 but paid after the Covered Period or the Alternative Payroll Covered Period eligible for loan forgiveness? Answer: Yes, if the payroll costs are paid on or before the next regular payroll date after the Covered […]