Transcription of Paycheck Protection Program Frequently Asked Questions
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Paycheck Protection Program Frequently Asked Questions
As of July 29, 2021. These FAQs are in the process of being revised and do not yet reflect changes made by the American Rescue Plan Act of 2021 enacted on March 11, 2021. Paycheck Protection Program LOANS. Frequently Asked Questions (FAQs). The Small Business Administration (SBA), in consultation with the Department of the Treasury, intends to provide timely additional guidance to address borrower and lender Questions concerning the implementation of the Paycheck Protection Program (PPP), including both First Draw PPP Loans and Second Draw PPP Loans.
(Economic Aid Act), and of the Paycheck Protection Program Interim Final Rules (“PPP Interim Final Rules”)(link). The U.S. government will not challenge lender PPP actions that conform to this guidance, 1. and to the PPP Interim Final Rules and any subsequent rulemaking in effect at the time the lender’s action is taken. 1. Question:
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