The SBA has released a new interim final rule (IFR) providing exemptions for PPP loans of $50,000 or less.
PPP loans of $50,000 or less are now exempted from any reductions in forgiveness based on (1) reductions in full-time-equivalent (FTE) employees and (2) reductions in employee salary or wages.
PPP loans of $50,000 or less are now exempted from any reductions in forgiveness based on (1) reductions in full-time-equivalent (FTE) employees and (2) reductions in employee salary or wages.