Insights

MPL General Counsel Corner – Taking the Complex and Making It Simple (Sort of)

November 03, 2020

The SBA released updated guidance and a new forgiveness application and instructions late last week for PPP loans of less than $50k.  Essentially, if your PPP loan falls into this amount, you can now certify that you have met the FTE and Salary requirements, versus the prior requirement to show your calculations.  You still provide the back-up documentation to your lender and the SBA can still perform an audit.  So, make sure you keep good records.  Perhaps this is a test run to see if it lessens the forgiveness review burden.  Time will tell.

Albert Einstein said it best: “The definition of genius is taking the complex and making it simple.”

 A few other items we thought were of interest:  

 

Please see all of our prior updates at the this link or if you would like to be added to our email list, please click here.  

As always, please don’t hesitate to email myself (jsanders@mpl-law.com), Andy Miller (amiller@mpl-law.com), Christian Miller (cmiller@mpl-law.com) or anyone in our office with questions or comments.  

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