The simplified process generally is available for loans of $150,000 or less, which the SBA reports account for 93% of outstanding PPP loans.
There have been recent accounting standard updates (ASU) provided by the Financial Accounting Standards Board (FASB) that went into effect in which non-profits would have to address liquidity and management's plan over their fiscal policies.
Did you receive a PPP loan? There is new guidance towards forgiveness and repayment and the deadline is quickly approaching. Do you have questions on how all this impacts your business?