Wednesday, the SBA updated their FAQs on the Paycheck Protection Program (PPP) loans which now clarify the deferral period for PPP payments. Although some earlier loans specified a deferral period of only six months, newer guidance pushes the deferral out for ten months.
For more information check out the Journal of Accountancy article on this update or see the full SBA FAQs.
If you have additional questions, contact your accountant and remember to follow us on LinkedIn to stay up to date on all of our posts.
Note: The SBA updated their FAQs on October 13 and the above link is to the October 7 version of the FAQs. For the most up to date FAQs, click the red download button on their FAQ page.
If you have additional questions, contact your accountant and remember to follow us on LinkedIn to stay up to date on all of our posts.
Note: The SBA updated their FAQs on October 13 and the above link is to the October 7 version of the FAQs. For the most up to date FAQs, click the red download button on their FAQ page.
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