PPP Loan Forgiveness Update
Nonprofits, When to Apply for PPP Loan Forgiveness
So, you received PPP funds.
What do you do now?
How do you make sure your loan is forgiven?
If you're asking these questions, you're not alone!
What we know:
If passed, Senate Bill 4321 will allow all PPP borrowers that received $150,000 or less to automatically have their loan forgiven if the debtee “signs and submits to the lender an attestation that the eligible recipient made a good faith effort to comply with all requirements.
What we advise:
If you received PPP funds for under $150,000 and want to apply for forgiveness - JUST WAIT! The current application is complicated and looks like a mini tax form. You may not need to complete this form if Senate Bill 4321 is passed. We'll keep you updated.
As always, our team is happy to answer questions and help your organization navigate current financial challenges. Give us a call at (321) 233-3311 or email hello@yourbluefox.com.
