Small Business Administration Issues Additional PPP Loan Guidance

To help borrowers and lenders, the U.S. Small Business Administration issued guidance to calculate and document the maximum PPP loan amount a business may be eligible for.

The guidance addresses calculations and documentation requirements for applicants that are:

• Self-employed with no employees
• Self-employed with employees
• Self-employed farmers who report income on Schedule F
• Partnerships
• S and C corporations
• Nonprofit organizations
• Eligible nonprofit religious organizations, veterans’ organizations and tribal businesses
• Limited liability company owners

Full details can be found HERE.

Updated 4.27.2020 at 10 am.