The Paycheck Protection Program (PPP) is an unprecedented and fascinating example of colossal and continuously-changing fiscal policy. Until now the details of the central forgiveness mechanism have been few and sometimes conflicting. Late yesterday, the SBA released its PPP Loan Forgiveness Application. The application can be found here. Some initial, limited commentary from the US Treasury can be found here. These documents answer some outstanding forgiveness questions, are silent on others, and raise new questions for borrowers to consider. We will circulate an Alert with our own analysis shortly.
Client Alert: PPP Loan Forgiveness Calculator Issued by Treasury – May 16, 2020
