PPP - FAQs and Safe Harbor for Small Business

Описание: There has been a tremendous amount of content posted about the #PPP program under the #CARES Act in the past weeks. But it has been difficult to separate fact from opinion! Candidly, the PPP has only been around for 2 months and the official guidance has changed on a regular basis. So I want to discuss several important FAQs issued DIRECTLY by the SBA and Department of Treasury without any opinion or bias.

In addition to the FAQ, the is a new "Safe Harbor" that will provide significant relief for small and medium sized #businesses. This Safe Harbor is for companies that received PPP loans less than $2M and implies that the #SBA will not be scrutinizing the underlying economic need of these loans. You may not have noticed this in your application, but there was a certification that you signed stating the PPP loan was needed under the penalty of law!