tci Medicare Compliance & Reimbursement - 2020 Issue Q2

Paycheck Protection Program: Get the Scoop on PPP Loan Forgiveness

Expect the level of scrutiny to match the amount borrowed. If you applied for a Paycheck Protection Program (PPP) loan and have been patiently waiting for what to do after the dust settles, the wait is over. The Small Business Administration (SBA) has finally addressed PPP loan forgiveness with new guidance and an application for forgiveness. Reminder: Section 1102 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) outlines the SBA’s PPP, which aims to assist small businesses impacted by the COVID-19 pandemic. Under the program, small businesses like physician practices can apply through an SBA-approved...

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