Guidance Issued for PPP First-Draw Loan Increases, Reapplications
Procedural guidance from the Small Business Administration outlines processes Paycheck Protection Program borrowers and lenders must follow to reapply for a first-draw PPP loan or request an increase to a loan approved by Aug. 8, which is when the first iteration of the PPP stopped accepting applications.
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** This information is provided for general educational purposes only. Before taking any action based on this information, we strongly encourage you to consult with a professional accounting advisor about your specific situation.