Construction Executive published article by Partner Robert Mercado and Director James Wiedemann, about pandemic relief programs for contractors.
Construction Executive
By Robert Mercado, Partner, Assurance Services & James Wiedemann, Director, Assurance Services
Excerpt:
For contractors that meet the above criteria, the PPP2 loan application is based on the same criteria as PPP1; however, the maximum amount of the loan has been reduced from $10 million to $2 million. All requirements for forgiveness in PPP1 have been carried forward. New costs have also been added to the non-payroll forgivable items, including certain operations costs, property damage costs, supplier costs and worker protection costs.
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