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In early June, Congress approved the PPP Flexibility Bill, which authorized key changes that include extending the Paycheck Protection Program and the rehiring deadline to December 31, 2020, and expanding the covered period for loan use from eight weeks to 24. Now, we can start to interpret and apply implementation guidance from the Small Business Administration (SBA).

In this session, recorded July 22, 2020, Gina McDonald, CPA of FMA shares detailed guidance for nonprofit leaders, including:

  • A refresher on how organizations can and cannot spend PPP funds
  • Guidance on estimating “FTEs”
  • Navigating the forgiveness process and applications
  • Other decisions related to PPP that organizations will need to make

 

 

Cover image credit: LendingMemo.com