The May 14th safe harbor deadline (extended from the original date of May 7th) to repay Paycheck Protection Program (PPP) loans was extended until May 18th (SBA FAQ #47 issued 5/13/20).  This extension is to give borrowers an opportunity to review and consider FAQ #46.  See our blog post Good Faith Certification for PPP Loans.

 

Click the link below to see a PDF of all FAQs issued by the SBA on the PPP loans.

https://www.sba.gov/sites/default/files/2020-05/Paycheck-Protection-Program-Frequently-Asked-Questions_05%2013%2020_2.pdf

 

Reach out to the team at MWB for any questions you may have on anything above or ANY impact you are seeing to your business during this time.