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Certification Deadline for PPP Borrowers Extended to May 14

The Small Business Administration (SBA) has extended the deadline for borrowers to repay Paycheck Protection Program (PPP) loans if they cannot certify in good faith that the funds are necessary to support ongoing operations.

The SBA previously set the safe harbor at May 7, 2020. The repayment deadline is now May 14, 2020.

This still leaves only a week for borrowers to determine their eligibility for PPP relief. Eligible borrowers should document this need and be prepared to substantiate it.

Legal Guidance for PPP Borrowers

Join us today, May 6, at 12:30p.m. EDT for a special webinar, Countdown to PPP Certification Deadline, as our emergency loan consultants host special guest, Matthew E. Rappaport, Esq., LL.M. of Falcon Rappaport & Berkman PLLC, for a legal perspective on determining and documenting PPP eligibility.  Access the webinar recording.

Please contact your Grassi advisor or our Crisis Response & Recovery hotline at 212.223.6216 or response@grassiadvisors.com to learn more about certifying your PPP relief.

Lou Pizzileo An accounting and advisory Partner at Grassi, Lou Pizzileo plays a key role serving the firm’s clients in the manufacturing and distribution, technology and specialty finance practices. Entrepreneurial minded, Lou recently led the firm’s efforts in assisting companies with capturing available stimulus provided by the CARES Act, including the Paycheck Protection Program. He also recently created and leads the firm’s IT accounting practice. Lou... Read full bio
Categories: Advisory, Crisis Response & Recovery

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