On April 7, the SBA issued FAQs providing clarification on a number of issues, including exceptions to the 500 employee rule, borrower and lender responsibilities, affiliation rules, the $100,000 salary limitation, and how federal taxes do not affect the calculation. These FAQs are being updated regularly by the SBA.
Please contact an MCB Advisor if you need assistance in applying for a loan under this program.
We will continue to update you as we get more information on Coronavirus-related legislation and guidance that may impact you. Continue to check back here for the most up to date tax information and changes in response to Coronavirus. If you have more questions contact an MCB Advisor at 703-218-3600 or click here.
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