The initial frenzy of PPP loans in the spring and summer of 2020 has given way to the practical realities of the forgiveness process. For most, the forgiveness of PPP loans is a simple and straightforward exercise with lenders. Others should consider that the timeline for forgiveness can run over one year to undergo a more demanding appellate review with the SBA. Careful preparation of documents and an active relationship with a lender will help smooth this process for all involved and, hopefully, avoid a lengthy appeals process.
Read the full advisory here.