When does the loan forgiveness period begin?

Posted by Bonita Hatchett-Bodle

Apr 20, 2020 3:18:20 PM

The amount of forgiveness of a Paycheck Protection Program loan depends on the borrower’s payroll costs over an eight-week period. The SBA clarified that the eight-week period begins on the date the lender makes the first disbursement of the PPP loan to the borrower, which is no later than ten days after loan approval.

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Topics: Paycheck Protection Program, loan forgiveness