Attached is additional guidance from the SBA/Department of Treasury on the Paycheck Protection Program Loans (PPP).

Please note Q 16 regarding how a borrower accounts for federal taxes when determining payroll costs for purposes of he maximum loan amount, allowable uses of a PPP loan, and the amount of a loan that may be forgiven.

Q 20 is responsive to the question regarding the amount of forgiveness of a PPP loan depends upon the borrower's payroll costs over an 8-week period, beginning on the date the lender makes the first disbursement of the PPP loan to the borrower. The lender must make the first disbursement of the loan no later than 10 calendar days from the date of loan approval.