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SBA issues new IFR to answer COVID-19 PPP loan forgiveness questions

May 28, 2020 / 4 min read

New guidance issued by the SBA addresses questions regarding PPP loan forgiveness. Here’s our brief summary of the interim final rule’s main provisions.

The U.S. Small Business Administration (SBA) has issued an interim final rule (IFR) addressing Paycheck Protection Program (PPP) loan forgiveness. The IFR answers some, but not all, questions surrounding PPP loan forgiveness. Revisions as well as further guidance may be forthcoming. In the meantime, here’s a brief summary of the IFR’s main provisions:

We’ll continue to monitor any future guidance issued by the SBA with respect to PPP and loan forgiveness. You can also view our webinar on loan forgiveness and subscribe to our COVID-19 resource center for future updates. Still have questions? Please give us a call. 

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