Businesses are applying for the Paycheck Protection Program by the thousands. The Administration reports that as of April 29, $52 billion in loan requests have been approved. The Treasury Department and Small Business Administration released additional guidance for PPP’s review procedure, final rule on disbursements, FAQs (question 37) and more. NADA urges dealers to review these items carefully.
- Joint Statement by Secretary Steven T. Mnuchin and Administrator Jovita Carranza on the Review Procedure for Paycheck Protection Program Loans
- Interim Final Rule on Seasonal Employees
- Interim Final Rule on Disbursements
- Analysis of SBA FAQ 31 and 37
- Frequently Asked Questions (question 37)
- How to calculate PPP loan amounts