Paycheck Protection Program: Summary of Changes 2.0 (January 19, 2021)

Over the holiday weekend, we saw the release of several targeted updates from the Small Business Administration on the Paycheck Protection Program. The updates come in the form of procedural notices to address the following:

  • Resubmissions of loan forgiveness applications using 3508S, lender notice responsibilities to PPP borrowers, and offset of remittances to lenders for lender debts. Click here to download the notice.
  • Paycheck Protection Program Excess Loan Amount Errors. Click here to download the notice.

 

Further, last evening the SBA issued a document that outlines loan calculation and documentation needs for various business types. Click here to download this document. Based on the new information which has been received since late last week, our team has updated PPP Summary of Changes document. You can download it below.

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