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You are here: Home / News / PPP borrowers can use gross income, SBA rules
PPP borrowers can use gross income, SBA rules

PPP borrowers can use gross income, SBA rules

posted on March 12, 2021

The interim final rule revises the maximum loan calculation for sole proprietors who file Schedule C returns, but the change is not retroactive. The SBA and Treasury have ruled that borrowers whose PPP loans already have been approved cannot increase their loan amount based on the new methodology.

https://www.journalofaccountancy.com/news/2021/mar/ppp-borrowers-can-use-gross-income-sba-rules.html

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