FREQUENTLY ASKED QUESTIONS REGARDING …
FREQUENTLY ASKED QUESTIONS ... (such as that loan forgiveness will cover non-payroll costs only to a maximum of 25% of the total loan to a recipient). The PPP and EIDL loan programs are neutral, generally applicable loan programs ... Receipt of a loan through any SBA program constitutes Federal financial assistance and carries
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www.sba.govPaycheck Protection Program. loan proceeds must be used only for eligible payroll costs and certain eligible nonpayroll costs as set forth in program guidance . The loan may be forgiven if all employee retention criteria are met and funds were used for eligible expenses. Retain receipts and contracts for all loan funds spent for 3 years. 4.