Important Updates To The PPP May Equal More Money For Your Small Business

Yesterday the Small Business Administration released an updated FAQ fact sheet on the Payroll Protection Program. Don’t have the time to read through all 46 points, 17 pages, and the myriad of referenced documents? I got your back: here’s what you need to know.

  1. Businesses with a PPP loan under $2m now automatically fit the SBA forgiveness criteria with respect to financial hardship.

That’s right — you no longer have to prove that COVID-19 had a negative impact on your business, as the assumption is any small business suffered in some way.

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