As the deadline approaches for the Paycheck Protection Program (PPP) loan forgiveness, the Small Business Administration and the Department of Treasury recently created a new FAQ document to help those who received a PPP loan.

With this deadline, negotiations are occurring on whether a new stimulus package will be created that includes a new round of PPP loans and a simplified process of PPP loan forgiveness.

As these options are currently being debated, it could mean borrowers should not rush their PPP forgiveness. The American Institute of CPAs (AICPA) recently published an article titled “Five Reasons Why Borrowers Should Not Rush Their PPP Forgiveness Application.” To read the article, click here.