SBA Issues PPP Loan Forgiveness FAQ, Providing Further Guidance

Crowell & Moring – On August 4, 2020, the Small Business Administration (SBA) released a Frequently Asked Questions (FAQs) addressing numerous technical issues on PPP Loan Forgiveness. On August 11, 2020, the FAQs were updated to include additional guidance for recipients of both PPP Loans and Economic Injury Disaster Loans. The following are the major takeaways from the FAQs.