4 Things to Know: May 18, 2020
1. . The SBA released a Paycheck Protection Program Loan Forgiveness form on Friday, the document is below:
While the SBA Form 3508 provides clarity on some of the issues surrounding PPP loan forgiveness, there will be supplemental guidance that will be released to along with it in the future per the SBA.
Loan Forgiveness is not automatic and the SBA form states, "To apply for forgiveness of your Paycheck Protection Program (PPP) loan, you (the Borrower) must complete this application as directed in these instructions, and submit it to your Lender (or the Lender that is servicing your loan). Borrowers may also complete this application electronically through their Lender."
Before you fill out form, please check with your lender or bank who issued your loan on their process.
2. To view the May 13, 2020 Webinar discussing Guidance for Businesses during Late Stage Two click HERE and the Q/A Report is below:
3. The CDC released guidance for Youth Programs and Camps in a simple PDF Sheet. Note, make sure you check with state and local health officials and other partners to determine the most appropriate actions while adjusting to meet the unique needs and circumstances of the local community. If you have specific questions regarding your business email email@example.com
4. More on the Stage 2 expansions can be found at County Variance page. Based on State guidance, Stage 2 will be phased in gradually. Some communities may move through Stage 2 faster if they are able to show greater progress, such as Tuolumne County who went into Late Stage 2 on May 11, 2020. Counties that have met the readiness criteria and worked with the California Department of Public Health can open more workplaces as outlined on the County Variance page.