The AICPA, the National Federation of Independent Business, the S Corporation Association and four other small business advocacy organizations are urging the U.S. Small Business Administration (SBA) to provide small businesses with clarity related to Paycheck Protection Program (PPP) funds.
In a statement on Tuesday, May 12, the organizations asked the SBA to immediately revise its recent guidance to better mirror the PPP’s intent. The statement also called for the SBA to issue additional guidance making clear the terms for PPP loan forgiveness.
The organizations urged policymakers to remain focused on the PPP’s original purpose of ensuring that businesses have the financial resources to keep employees paid while government-mandated stay-at-home orders remain in place.