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Mon, October 26, 2020 at 02:56 pm EDT

New legislation has been approved which made changes to the Small Business Administration’s (SBA) Paycheck Protection Program (PPP).

Under the new legislation, small businesses will now have up to 24 weeks to use their PPP loans and the deadline for rehiring workers is extended from June 30 to the end of 2020. Additionally, the amount of the loan that must be used toward payroll expenses has been lowered from 75% to 60%. Click here for details.

If you received a PPP loan from FAIRWINDS, we encourage you to review the Loan Forgiveness Application and begin collecting the necessary documentation to complete the application. A checklist is provided below to assist with this. We will inform you by email and on this website page when the loan forgiveness online application portal is live.

Click on the options below to learn more about the PPP loan forgiveness options.