FAQs on Paycheck Protection Program ReleasedApril 7, 2020
On April 6, the Treasury Department and the Small Business Administration (SBA) issued an FAQ document, which will be updated on a regular basis, to address borrower and lender questions concerning implementation of the Paycheck Protection Program (PPP). The document provides answers to many commonly asked questions relating to payroll cost calculations, eligible businesses (including small business concerns), the exclusion of compensation in excess of $100,000, affiliations and certain SBA application requirements.
We will continue to keep you informed as this document is updated. Reach out to our Response Team or visit our Pandemic Resource Center for additional updates and guidance on the coronavirus (COVID-19).