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COVID-19 Update: Paycheck Protection Program Last Minute Updates

April 4, 2020

Late Thursday evening, April 2, the SBA posted revised provisions regarding the Paycheck Protection Program (PPP). These provisions changed the PPP application form, the calculation for payroll costs used to determine the PPP loan amount, and provided additional guidance on the process. Banks have been challenged to upgrade systems for these last minute changes causing delays in processing loan applications. The revised SBA application can be found below.

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As you can see, these calculations are not very straightforward. Please be sure to reach out to your BLS Team Member or email us at info@belfint.com with any questions on the PPP loans or other aspects of recent federal legislation.

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