PPP Forgiveness Updates 6/4/2020
As of June 1, more than 4 million PPP Forgiveness Loans have been issued, totalling more than $500 billion. There's still more than $100 billion in funding remaining, however, and now is a good time to apply and see if you qualify.
Meanwhile, a lot of Henry & Peters, PC clients are asking for guidance on the next step of the process, the complex loan forgiveness application available from the SBA. CPAs Thomas Neuhoff and Linda Cooper have insights for you in today's COVID-19 update along with some related dos and don'ts for the weeks ahead.
As we've been emphasizing, there's a lot of things changing all the time – notably, this video was recorded June 2 and discusses the PPP Flexibility Act that was previously passed by the House and just passed the Senate on June 3rd. It is currently awaiting the President’s signature.
Stayed for new updates: we're going to keep working to keep you up-to-date as things continue to evolve, and we encourage everyone to log on to HenryPeters.com for more ongoing information.