Covid-19 related

PPP 7(a) UPDATED TERMS – Thursday, April 2, 2020 11:45PM

The PPP program has been appealing from the start because of its potential to be totally or partially forgiven. But its appeal is growing. According to the latest Treasury Regs, the terms for the PPP loans have been set. In the beginning they were expected to be 4% annual interest over 10 years. They are now set at 1% annual interest over 2 years.  We know you’re particularly focused on trying to attain 100% forgiveness on the PPP proceeds. But even if that’s not accomplished…1% interest?? Not Much analysis required there. Those are good terms.