Big changes to PPP loans potentially

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by a professional from University of Illinois at Urbana-Champaign - College of Business
in 475 Half Day Rd, Lincolnshire, IL 60069, USA

6yrs ago

Big changes to PPP loans potentially

For months, we have worked diligently with our clients to communicate the ins and outs of the PPP loan program and forgiveness process. It appears much may change as Congress looks to take additional action. Here's what we know so far: redacted

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reply by a searcher 6yrs ago
in Seattle, WA, USA

This has all passed House and Senate and Trump has said he will sign it.

There's also one item of particular note not listed in the linked article, which is that for companies on a shorter pay cycle (e.g. every other week) there is an option to "slide" the window forward from the date of funding to better match the pay periods.

Additionally, as near as our people can tell reading the language of the bill, not only does the window include payroll made within the period, but also payroll accrued within the period.
In short, if you adjust the window forward so that it begins on a payroll day, not only can you count that entire payroll amount (even though it applies to the period before funding) but if you have some days at the end which belong the next payroll made after the window, you can still prorate that out-of-window pay to include those odd days.