On Friday, May 15th the SBA issued the Loan Forgiveness Application. I know that you are all eager to learn more, so Tyler Willis, CPA and I met on May 20th to chat about what we found in our first pass through this document.
In a nutshell – they answered a lot of questions that were up in the air, but they did it using probably the most complicated method possible.
Stay tuned for an update to our PPP Loan Tracking mini-course. Turns out 95% of the information you need for the Forgiveness Application shows up in the workbook. So I will show you where to find it and where to enter it on the application.
ADDENDUM 5/1/20: I am still working on the update to our PPP Loan program. One of the unique problems wineries face is the large number of part-time tasting room employees. This problem complicates an already complicated process, and that is what I am trying to address in my update. In the meantime, here is a really good article with a step-by-step explanation by Forbes.com GO HERE
This video gives a quick overview of the Forgiveness Application. I will have a more details and instructions in the PPP Loan Tracking mini-course