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There are a few things to keep in mind in regard to the Small Business Administration (the “
SBA”) and the Paycheck Protection Program (“
PPP”) loan forgiveness review process.
Adding on to the initial PPP funding, the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the “
Economic Aid Act” or “
PPP2 Act”) was followed by new forgiveness application forms and the Interim Final Rule on Loan Forgiveness Requirements and Loan Review Procedures as Amended by Economic Aid Act (“
2021 Forgiveness IFR”), which may create new questions.
To explore the latest information, we created a four-part series that may offer some clarity around the new updates: