The SBA released a revised Loan Forgiveness Application applying the PPP Flexibility Act of 2020.
The borrower may include only the share of covered expenses that were deductible on the borrower’s 2019 tax filings, or if a new business, the borrower’s expected 2020 tax filings for a home based business, when determining the amount of nonpayroll costs that are eligible for loan forgiveness. Personal home costs maybe not associated with the continuing company may not be included. Finally, lease paid to a associated celebration or affiliate is qualified to receive loan forgiveness so long as: the total amount of loan forgiveness asked for for lease or rent re re re payments up to an associated celebration is maybe not a lot more than the quantity of home loan interest owed in the property throughout the Covered Period that is owing to the area being rented by the company, and;
The SBA has released Interim Final Rule 13 CFR Part 134 documenting the method for appealing SBA Loan Review choices. It is essential to keep in mind that appeals try not to extend the deferment amount of your PPP loan. This implies the payment routine continues to be the exact same even though you file an appeal after an SBA Loan Review choice is communicated.
The full Interim Final Rule can be obtained right right here. Please continue steadily to review the SBA’s PPP FAQ’s right here.
The SBA issued a notice that is procedural all SBA workers and PPP Lenders that clarifies the method for Lender submission of PPP loan forgiveness choices to your SBA and SBA forgiveness reviews. 자세히 보기 →
