SBA Issues Additional PPP Loan Forgiveness Guidance

This week, the Small Business Administration (SBA) released additional guidance related to loan forgiveness under the Paycheck Protection Program (PPP). Under the SBA’s interim final rule, an owner-employee with less than a 5% ownership stake in a C- or S-corporation is not subject to the owner-employee compensation limitation. Also, guidance was issued for forgiveness eligibility for related-party rent payments. Read more in this analysis by OMA Connections Partner RSM. 8/26/2020