During a recent BVR webinar, speakers report that many business owners will claim their Payroll Protection Plan (PPP) loans will be 100% forgiven. In reality, not everyone will receive 100% forgiveness, so appraisers need to make their own decisions about whether what clients are saying is reasonable or not. The U.S. Small Business Administration (SBA) and Treasury have issued new guidance for the reopening of the PPP. The new guidance released includes:
Speakers on the BVR webinar also advised experts to consult with a client’s accountant and attorney about the loan forgiveness.
Please let us know
if you have any comments about this article or enhancements you would like to see.