SBA Issues FAQ on PPP Loan Forgiveness

Filed in Business Management, Disaster Response by on August 14, 2020 3 Comments

The Small Business Administration has issued an FAQ on loan forgiveness under the Paycheck Protection Program (PPP). Any members who have received PPP loans must be very careful that they follow all conditions and requirements of these loans in order to be eligible for forgiveness.

Members who have been having issues with loan forgiveness under the PPP are encouraged to contact Amy Chai at NAHB at 1-800-368-5242, x8232 or Heather Voorman at x8425.

View the updated FAQ.

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Comments (3)

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  1. Corpely.com says:

    With respect to eligible utility costs, the FAQs clarified (i) that the reference in the CARES Act to utility payment for a service for the distribution of transportation for which service began before February 15, 2020 was intended to refer to transportation utility fees assessed by state and local governments, and (ii) the entire electricity bill payment is eligible for loan forgiveness, including supply charges, distribution charges and other charges such as gross receipts taxes, even if such charges are invoiced separately.

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