5/14/20 - PPP Loan increase to cover guaranteed payments to partners

The SBA has issued an interim final rule on loan increases. In short it allows additional borrowings for guaranteed payments to partners that were originally excluded from the loan calculation amount. It also provides additional lending for seasonal employees. See explanation starting on page 6 of linked document

Please contact your bank to request the additional funding.

Your professionals at Castellano Korenberg & Co. are always available to assist you through this tough time of trying to make sense of all the new regulations being passed. Stay up to date with the most recent information by visiting castellanokorenberg.com, call us at 516-937-9500, or contact your CK professional for more information.

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