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For those fortunate enough to have taken advantage of PPP loan program, the time Is coming soon where the PPP loan can become forgiven thru PPP loan forgiveness program. Failure to apply properly for the PPP loan forgiveness will result in the loan remaining and the borrower forced to pay back over five years. Following the ever-changing PPP forgiveness rules is essential to achieving PPP loan forgiveness. The PPP forgiveness application is complicated and its interpretations on completing it correctly are in a constant state of flux. It is therefore extremely important to be vigilant following the latest government interpretations on how to properly file for PPP loan forgiveness.

Brian C. Greenberg & Assocs are dedicated to remaining current and up to date so our clients are in compliance and can have their PPP loan become PPP loan forgiven. We want your PPP loan to become a grant. Not to be overlooked is the SBA loan which follows the EIDL loan. This is a loan you do have to pay back but over 30 years at a 3.75% fixed rate with no payment the first year. We can discuss with you if this loan is appropriate for your business needs.

Loan Forgiveness FAQs

On August 4, 2020, the Small Business Administration (SBA), in consultation with the U.S. Treasury Department, issued new guidance through Frequently Asked Questions (FAQs) aimed at helping Paycheck Protection Program (PPP) borrowers navigate maximum loan forgiveness.

This is the first release of clarification for the loan forgiveness as FAQs...READ MORE

As included in our previous post, the SBA is offering guidance in the loan forgiveness process, which includes the scenario of rejection of the PPP forgiveness.

In many cases, the PPP application was prepared by CPAs, EAs, bankers, consultants and other business professionals. These professionals are already aware of the PPP application, support provided with the original application...READ MORE