Update on PPP Loan Information and Forgiveness

The Small Business Administration (SBA) and US Department of Treasury released an updated Frequently Asked Questions (FAQ) document on the Paycheck Protection Program. In addition to this comprehensive document on the program, the Treasury sent out a press release announcing simpler PPP forgiveness for loans of $50,000 or less. There are links in the press release to pdfs of:  (1) the simpler loan forgiveness application, (2) the instructions for completing the simpler loan forgiveness application, and (3) the Interim Final Rule on the simpler forgiveness process for loans of $50,000 or less. 

This efforted was supported by the Premium Cigar Association in our roadmap to economic recovery released in response to the economic challenges facing small businesses effected by COVID-19. PCA hopes that both the Administration and Congress will provide additional resources and simplify programs for our members related to the COVID-19 response. If you have questions about the PPP program, please contact Joshua Habursky, Head of Government Affairs at joshua@premiumcigars.org or (814) 881-1618.