PPP Updates: May 18 Repayment Deadline, Bigger Loans for Partnerships & Seasonal Employers, Electrical Co-Op Eligibility

Thoughtware Alert Published: May 14, 2020
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On May 13, 2020, the U.S. Small Business Administration created a safe harbor for loans under $2 million as part of the Paycheck Protection Program (PPP). This article details new guidance that extends the safe harbor deadline and provides a limited window of time for partnerships and seasonal employers to potentially receive additional PPP funds and for electric cooperatives to apply for PPP assistance. Qualifying borrowers should act quickly on this opportunity.

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