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SBA No Longer Deducting EIDL Advances from PPP Loan Forgiveness

SBA No Longer Deducting EIDL Advances from PPP Loan Forgiveness

Posted: Jan 06 2021
Pursuant to the COVID-19 relief law enacted recently passed, SBA said that Economic Injury Disaster Loan advances will no longer be deducted from Paycheck Protection Program loan forgiveness amounts. SBA’s API vendor updated its software on Dec. 29, SBA said. The agency expects to address retroactive payment of previously deducted EIDL advances in forthcoming guidance.
 

 

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