Nancy A. D. Hancock Talks with Connecticut Public Radio’s All Things Considered about PPP Loan Forgiveness and SBA Update
Nancy A. D. Hancock, co-chair of Pullman & Comley’s Business and Finance practice, spoke with Connecticut Public Radio’s All Things Considered about Paycheck Protection Program (PPP) loan forgiveness and an Interim Final Rule issued by the US Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) that offers relief to small borrowers of PPP loans.
Nancy explains details on new information from SBA and Treasury, including the process by which small businesses who borrowed $50,000 or less submit a new form, SBA Form 3508S, that was announced on October 8, 2020. "People can submit that form along with a list of documentation, sign it and submit it to their lender, and it makes it easier for the lender to be able to submit that form to SBA and that's what is necessary for you to obtain forgiveness; it's a 3-step process."
To listen to the full interview, click here.