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  1. 6 days ago · First Draw PPP loans can be used to help fund payroll costs, including benefits, and may also be used to pay for mortgage interest, rent, utilities, worker protection costs related to COVID-19, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations.

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  3. Aug 12, 2024 · As with all SBA loans, First Draw PPP loans were administered by the SBA but managed and funded by approved lending partners. Borrowers were required to meet the SBA’s definition of a small business and operate approved industries within the U.S. and its territories in order to qualify.

  4. 6 days ago · Existing borrowers. Learn how to manage your loan, including how to monitor loan status, make payments, and request a COVID-19 EIDL increase. Loan details.

  5. Aug 22, 2024 · After August 4, 2021, borrowers whose lenders were part of the direct forgiveness scheme were able to submit their applications for loan forgiveness through the SBAs online portal. As of November 2021, data indicated that approximately 97% of the PPP loan funds were allocated to payroll expenses.

  6. Aug 26, 2024 · Per the IFR, the 10-year records retention requirement applies to all documents relating to PPP applications and loans, including: “PPP loan applications that were withdrawn, approved, denied or cancelled, and all other PPP lender loan records for PPP loans with an outstanding balance, PPP loans that have been forgiven, and PPP loans that are in...

  7. Aug 9, 2024 · PNC is committed to helping your business mitigate the impact of COVID-19 with a Paycheck Protection Program (PPP) loan. Learn more about how to apply.

  8. Aug 12, 2024 · How to fill out an SBA loan forgiveness application. Small businesses that received a loan through the U.S. Small Business Administration’s (SBA) Paycheck Protection Program (PPP) can apply for loan forgiveness using one of three forms.

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