PPP Updates – Restrictions, Eligibility, Loan Amount Calculations & Penalty-Free Repayment Option

By: Jim Ashley & Anne Coughlan, BKD CPA’s & Advisors
 
The recently enacted Paycheck Protection Program and Health Care Enactment Act allocated $310 billion in additional funding for the U.S. Small Business Administration’s (SBA) Paycheck Protection Program (PPP) and added enhanced oversight and new restrictions. The legislation provides the SBA with an additional $2.1 billion for administration and oversight of COVID-19 response programs. This article provides details on several important updates.
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