Wednesday, April 15, 2020
There have been some significant additional guidance/updates emerge as to the Paycheck Protection Program (PPP) so I wanted to provide a quick update. Please note: The links below are to the Treasury website (not SBA) which is where this information has first been located. We were informed Monday via a telephone conference by the SBA Office of Capital Access that use of information on the Treasury website is valid.
- Interim Final Rule - Business Loan Program Temporary Changes; Paycheck Protection Program – Additional Eligibility Criteria and Requirements for Certain Pledges of Loans. This document provide additional guidance on:
- individuals with self-employment income who file a Form 1040, Schedule C
- eligible businesses owned by directors or shareholders of a PPP Lender permitted to apply for a PPP Loan through the Lender with which they are associated
- businesses that receive revenue from legal gaming
- PPP Loan numbers – Many folks have been asking about how many PPP loans have been approved in Montana. Attached are some slides which show data for all of the states. As of 4/13/20 Montana had 10,372 loans for $1,293,105,048.
- FAQ Document additions – The FAQ document has several additions over the last couple of days as well and can be found at:
Thanks everyone; I hope this information is helpful.
Brent E. Donnelly
District Director – Montana
U.S. Small Business Administration
10 West 15th Street - 1100
Helena, MT 59626
Category: COVID19, SBA Loans