The clock is ticking, yet widespread confusion remains on PPP spending deadlines

The shifting terms and guidance around the Small Business Administration's Paycheck Protection Program are raising confusion about nearly all aspects of the stimulus plan — including when and how long recipients have to draw down their funding.

One thing is clear: Businesses are faced with two important deadlines.

Per one deadline, a business must spend all of its PPP money within eight weeks of receiving it in order to maximize the program's loan-forgiveness guidelines. But the other is to spend the money on eligible expenses and rehire workers no later than June 30, a deadline established in the first $349 billion PPP round created by the CARES Act in late March. It leaves little time for businesses that are receiving funding in the program's second $310 billion round, still underway, to reach maximum loan forgiveness.

What remains unclear is how those dual deadlines will work together. That leaves individual businesses to make the call until the SBA sets more definitive terms or revises its requirements.

https://www.bizjournals.com/seattle/news/2020/05/06/the-clock-is-ticking-and-yet-widespread-confusion.html?ana=e_sea_bn_editorschoice_editorschoice&j=90507184&t=Breaking%20News&mkt_tok=eyJpIjoiTUdJM05qaGtOV0V5T1RWbSIsInQiOiJ5Rmt3dVJONXpRWXd4dnRjWlJab29QVm1BMFBYVjE0V1N4eVc3WkRjYTZzMFlYTnhnWWZ4TDFoSjg4Um5kaU13U0U2ekFBM2tqXC9FS1duU2VOMkFqaVI5Rk9EVm11Q3ZnRzlXVVprUFBIZklydFlTQnM5Qko0RGUxckM3VDdkRU4ifQ%3D%3D

So the Trump administration can't even put out clear guidelines.