PPP Update – File for Forgiveness Early? Before the Covered Period Ends???
With the passage of the PPP Flexibility Act, many people have been wanting to use a few extra week to spend their PPP loans. However, with the new covered period being 24 weeks instead of 8, there was concern that everyone would need to wait to the end of the covered period before filing for forgiveness.
This interim rule defined the guidance on the ability to apply for forgiveness before the end of the covered period: https://home.treasury.gov/system/files/136/PPP--IFR--Revisions-to-Loan-Forgiveness-Interim-Final-Rule-and-SBA-Loan-Review-Procedures-Interim-Final-Rule.pdf
Find Small Business PPP Resources here: http://learn.claracfo.com
To book a time to talk about your PPP Loan go here: https://claracfo.as.me/claritysessions
Find us at: https://claracfo.com/
Disclaimer: This video is intended for educational purposes and should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience. Clara CFO Group, LLC or its members cannot be held liable for any use or misuse of this content.