PPP Loan Forgiveness Applications on Hold Until at least August 10

The SBA is not accepting forgiveness applications until August 10, 2020, and this date will be subject to extension if any new legislative amendments to the forgiveness process necessitate changes to the system. Further, final Treasury guidance concerning PPP Forgiveness Applications, which was expected in early July, is now not expected until after related federal legislation is resolved.

As we have communicated previously, this process continues to evolve, so we will send updates as we are informed. We recommend that you also keep open communication with your bank concerning their forgiveness procedures.

Robert (Bob) Schmidt, CPA

Principal at BWTP, P.C. Read Bob’s bio here.

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