Revised on May 27, 2020
Small nonprofits that have received money under the Paycheck Protection Program (“PPP”) will want to take advantage of the loan forgiveness provisions. While there has been some guidance provided by Treasury, there are still many remaining questions about PPP loan forgiveness. In fact, the CARES Act, SBA rules, Treasury rules and FAQs are sometimes confusing and contradictory! This article attempts to outline the factors a small nonprofit should consider to maximize its loan forgiveness under PPP, as things stand today.
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Pro Bono Partnership of Atlanta