SBA Releases PPP Forgiveness Application

By LMT Communications, Inc.

Posted May 28, 2020 in Industry News

[May 27] In March, the SBA released the first round of funding for the Paycheck Protection Program (PPP), a part of the CARES Act aimed to help businesses keep employees on their payroll during the COVID-19 pandemic. The demand was overwhelming; the funding ran out in just two weeks.
 
Fortunately, in April, the program was refunded, allowing those businesses that missed out the first time another chance to get the loan they desperately needed. As of May 21, over $100 billion of the $310 billion from the second round is still unallocated. Click here for more information on how to get funds.
 
Originally, the PPP specified that for the loan to be forgiven, at least 75% of the money must be spent on payroll costs paid within eight weeks from the date the funds are disbursed....

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About The Author

  • LMT Communications, Inc.

    LMT Communications delivers the business strategies, information, dental laboratory news and education that dental laboratory decision-makers need to succeed. In Print. In Person. Online.

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