The Paycheck Protection Program (PPP) Flexibility Act, signed into law on June 5, 2020, expands the possibility of loan forgiveness to small business borrowers. However, the forgiveness application adds complexities and provides a roadblock for many small businesses.

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Many borrowers counted on forgiveness when they applied for PPP loans earlier this year. The revised program enables more borrowers to achieve maximum forgiveness. However, with the Small Business Administration (SBA) releasing the names of PPP loan recipients over $150,000 and promising to audit all loans over $2 million seeking loan forgiveness — the stakes for non-compliance are high.

Jonny Frank explains why borrowers must act now to be best-positioned for maximum PPP loan forgiveness, and lay out practical steps for success.

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Jonny Frank StoneTurn

Jonny Frank

Jonny Frank brings over 40 years of public and private sector and law and business school teaching experience in forensic investigations, compliance, and risk management. He helps organizations and counsel […]

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