Demystifying the CARES Act Webinar - April 3, 2020 CARES Act Webinar – BD 4.3.2020 | Page 35

PAYCHECK PROTECTION PROGRAM (PPP)
PPP LOAN:
Documentation verifying the number of full-
time equivalent employees on payroll as well
as the dollar amounts of payroll costs,
covered mortgage interest payments, covered
rent payments, and covered utilities for the
eight-week period following this loan will be
provided to the lender. Loan forgiveness will
be provided for the sum of documented
payroll costs, covered mortgage interest
payments, covered rent payments, and
covered utilities.
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