IMPORTANT INFORMATION
SBA Paycheck Protection Program (PPP) Loan Forgiveness
SBA Paycheck Protection Program (PPP) Loan Forgiveness
SBA Paycheck Protection Program (PPP) Loan Forgiveness
We strongly suggest you consult with your CPA, Attorney, and/or HR Professional as the SBA continues to produce new and revised guidance on this program on a regular basis. We’ve made every attempt to ensure the accuracy and reliability of the information provided in this article, the information is provided “as-is” without warranty of any kind. CPM Employer Solutions, and their employees do not accept any liability or responsibility for the accuracy, legality, completeness, content, or reliability of the information contained herein.
Last night, the Senate passed the Phillips/Roy bill. It will be sent to the President for signature, we believe today. We can expect new rules from SBA to forthcoming
· EXTENDS the period of forgiveness from eight (8) weeks to twenty-four (24) Weeks
· REDUCED the 75 percent payroll ratio requirement to 60%-40%
· ELIMINATED the 2-year loan repayment restrictions for future borrowers
· ALLOWS payroll tax deferment for PPP recipients
· EXTENDS the June 30 rehiring deadline
We will be sending our further clarification once it becomes available.
SBA Paycheck Protection Program (PPP) Loan Forgiveness
We strongly suggest you consult with your CPA, Attorney, and/or HR Professional as the SBA continues to produce new and revised guidance on this program on a regular basis. We’ve made every attempt to ensure the accuracy and reliability of the information provided in this article, the information is provided “as-is” without warranty of any kind. CPM Employer Solutions, and their employees do not accept any liability or responsibility for the accuracy, legality, completeness, content, or reliability of the information contained herein.
Last night, the Senate passed the Phillips/Roy bill. It will be sent to the President for signature, we believe today. We can expect new rules from SBA to forthcoming
· EXTENDS the period of forgiveness from eight (8) weeks to twenty-four (24) Weeks
· REDUCED the 75 percent payroll ratio requirement to 60%-40%
· ELIMINATED the 2-year loan repayment restrictions for future borrowers
· ALLOWS payroll tax deferment for PPP recipients
· EXTENDS the June 30 rehiring deadline
We will be sending our further clarification once it becomes available.
Foodservice Restautant Partners Group (FRPG)
Email: memberservices@frpg1.com
Website: www.frpg1.com
Location: 2076 Seminole Boulevard, Largo, FL, USA
Phone: 727-712-0800
Facebook: facebook.com/frpg1