ASMP — American Society of Media Photographers

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PPP Forgiveness FAQ

By COVID-19, Legal, Strictly Business Blog, Town HallNo Comments

The Basics Is loan forgiveness automatic? No. You must request forgiveness through your bank or lender. Who do I request forgiveness from? You request loan forgiveness from the bank or lender who processed your loan. NOT the SBA. How should I use my loan proceeds to be eligible for Forgiveness? Under current SBA guidance: You must use at least 60% of funds for eligible payroll costs to qualify for full loan forgiveness, down from 75%…

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