- General Loan Forgiveness
- Loan Forgiveness payroll costs (including the amount of owner compensation that is eligible for loan forgiveness);
- Loan Forgiveness nonpayroll costs (including costs incurred or paid outside of the 8-week or 24-week covered periods); and
- Loan Forgiveness reductions (including how borrowers should calculate the reduction in their loan forgiveness amount arising from reductions in employee salary or hourly wages).
- The PPP could be modified or extended under the pandemic relief bill being negotiated. The Senate Republican proposal would provide an additional $190 billion to PPP to fund second-draw loans. It would also streamline the loan forgiveness process for loans under $150k, and expand the eligible expenses that qualify for forgiveness to include covered operations expenditures, property damage costs, covered supplier costs and covered worker protection expenditures.
- The House Democrat Proposal doesn't include new PPP money, but would expand the program's terms for loan forgiveness but not simplify the application, and it would give borrowers flexibility to extend the eight-week covered period to a 24-week period, among several other changes.
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