The Paycheck Protection Program resumed accepting applications yesterday in response to the President signing legislation extending the program. The new deadline to apply for a PPP loan is August 8, 2020. Over $130 billion in funding is still available.
Check out the PPP Report published by US Treasury in the link below:
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As always, we will keep you informed on all the important updates to the PPP as the SBA and Treasury continue to release new rules and guidance. Please don't hesitate to contact one of us or reach out to our COVID-19 team at
covid19@mggcpa.com
should you have any questions. Take care and stay safe.
Disclaimer:
This newsletter is based on interpretation of the CARES Act and guidance released through July 6, 2020. There are areas of the Act where additional clarification from the Treasury and SBA is needed. Your judgement and interpretations of the Act may be necessary. This alert is provided for information purposes only and does not constitute accounting and tax advice. Please contact your MGGGY LLP accountant for additional assistance.
CC mgggy newsletter release 2020-19
