Jackson Kelly PLLC

Tax Monitor

Additional PPP Disbursement Guidance

April 29, 2020

By: Mark A. Mangano

Last night the United States Department of the Treasury issued a new Interim Final Rule “Business Loan Program Temporary Changes; Paycheck Protection Program-Requirements-Disbursements.”

The rule provides:

  • that borrowers may not structure their draws on a PPP loan to delay the start of the eight-week covered period, and
  • a reporting process for banks to collect their loan processing fees.

A link to the IFR is here.

 

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