PPP Update: Outline of Major Dates, Deadlines and Directives

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PPP Update: Outline of Major Dates, Deadlines and Directives

As an additional resource for PPP borrowers, the attorneys at Burke, Warren, MacKay & Serritella, P.C. have created a chart summarizing the most significant deadlines, time periods, dates and formulas relating to PPP loans and forgiveness which can be found here. 

The PPP program suffers from a myriad of overlapping, conflicting, and confusing time periods and standards that makes compliance daunting.  The summary attached will help, along with a template spreadsheet for computing the amount of forgivable portion of the PPP loan.

The following factors complicate application of the rules, and necessitate the chart:

Bottom line – borrowers should:

Regardless of the confusion, borrowers that put forth a good faith effort, while substantially honoring these rules, should succeed in retaining most, if not all, of the promised forgiveness of their PPP loan.

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