Late Tuesday, the SBA issued updated FAQs related to the Paycheck Protection Program (PPP) loan. For borrowers who are currently considering repayment by May 7th per FAQs 31 & 37, please note that the answer to FAQ 43 extends the safe harbor repayment deadline to May 14th. Per the updated FAQs, “the SBA intends to provide additional guidance on how it will review certification prior to May 14, 2020.” We will be sure to share such guidance once available.
For the latest SBA FAQs, please click the link below:
Paycheck Protection Program FAQs
We are working quickly to help our clients during this time, and we hope the information provided is helpful to you.
As always, please do not hesitate to contact your C&J engagement team members regarding further information related to your specific situation.