Grants and Loans Information
More Coming Soon!
Click here to view a new SBA document about the PPP “Safe Harbor” Loans.
U.S. Small Business Administration Releases New FAQ Document on PPP "Safe Harbor" for Loans Under $2 Million
On May 13, 2020, the U.S. Small Business Administration, in consultation with the U.S. Department of Treasury, released an updated FAQ document concerning the implementation of the Paycheck Protection Program (PPP). Through this document, it was learned that the SBA has determined that loans with an original principal amount of less than $2 million will be deemed to have made the requisite certification regarding the necessity of the loan “in good faith.” This information is tremendously helpful for those who are awaiting guidance on the forgivability of PPP loans. [Read more from the Maryland Chamber of Commerce.]