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What is PPP Loan Forgiveness?

  

The PPP loan program is a one-of-its-kind forgivable SBA loan program under the SBA 7(a) program which was created by the CARES Act that became law March 27, 2020. To qualify PPP loan forgiveness you are required to spend your funds on eligible expenses within the 8 to 24 weeks following loan disbursement (known as the covered period).