New Paycheck Protection Program (PPP) loan guidance should provide relief to business owners currently selling, business buyers, and business brokers with prospective clients with a PPP loan.
Good news for PPP Loans under $50,000: To be forgiven by the lender; not sent to SBA.
The SBA has deemed PPP loans under $50,000 obtained by businesses with at least one employee, even if the owner, to be de minimis – “too trivial or minor to merit consideration” by the SBA.
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