On April 2, 2020, the Small Business Administration (“SBA”) published an interim final rule regarding the Paycheck Protection Program (“PPP”). Hours later on April 3, 2020, thousands of PPP loan applications were filed and businesses started to receive funds. Once PPP loan proceeds are received it is important for business to know what to expect and how to properly use those funds in a manner that will result in forgiveness of the PPP loan. There are at least three things a business obtaining a
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