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COVID-19

Paycheck Protection Program Loan Forgiveness Guidelines

Paycheck Protection Program Loan Forgiveness Guidelines
04/23/2020

Loan forgiveness is a defining feature of the Paycheck Protection Program (the “PPP”) created through the CARES Act. However, in order to maximize forgiveness, borrowers need to use the proceeds in a certain manner and within certain time constraints. The main requirements are outlined here, along with answers to some anticipated questions.

Please note that this list of requirements is not all inclusive --- other limitations may apply to your specific business situation. Some of these limitations are described in the FAQs below. Ingram professionals are available to assist in maximizing your PPP loan benefits.