Just a quick note to let you all know that the SBA has issued some new rules on the PPP program. These are interim final rules but not final final rules. All this means is that it is subject to change. One take-away is that the interest rate which was 1/2% is now 1% and in the law allowed up to 4% but SBA has kept it at 1 for now.

The best summary I could find for the rules as of yesterday is found here:

https://www.franczek.com/blog/sba-issues-interim-final-rules-and-additional-guidance-regarding-paycheck-protection-program/?utm_source=elinfonet

I hope this helps.

DSF