ARTICLE
PPP Salary Limitation Clarification and Revised Application
June 22, 2020
As expected, since the passage of the PPP Flexibility Act, the Small Business Administration continues to release additional guidance. On June 17, 2020, guidance was provided relating to payroll cost limitations due to changes to the covered period. In addition to this new guidance, the SBA published revised application forms to be used by borrowers to apply for loan forgiveness.