The Treasury recently issued FAQ #31, which created ambiguity among PPP loan recipients surrounding whether their businesses have adequate need to justify the loan. Given the confusion many business owners have expressed, the Treasury recently extended the safe harbor window for returning the loan to May 14th, promising to provide additional guidance before then.

At this time no additional information has been provided.  We will update everyone as soon as anything further is issued.

In the meantime, please read this article published by the American Institute of Certified Public Accountants here, which explains our thoughts about the intent and focus of the PPP for small businesses.