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  • Home
  • About PACB
    • Board of Directors
    • PACB Services, Inc.
    • Hall of Fame
    • Contact
  • Membership
    • Become A Member!
    • Benefits of Associate Membership
    • Member Listing
    • Member Login
    • PACB Board Portal
    • PACB Job Board
  • Advocacy
    • Advocacy Issues
    • Advocacy Events
    • Action Center
    • FirstPAC
    • Legislative Briefing Calls
    • Ways to Engage
  • Education
    • Be a Speaker
    • CBWN Webinars
    • NextGen"U"
    • ICBA Education
    • PACB Foundation Scholarships
    • SBS Institute Certification Programs
  • Events
    • 2025 Convention
    • PACB INSPIRE Awards
    • Educational Events
  • Communications
    • News
    • Consumer Services
    • Hometown Banker Website
    • SUBSCRIBE TO HOMETOWN BANKER
    • Social Media
    • Photo Galleries
  • Advertising Opportunities

​News

ARTICLE

Date ArticleType
6/23/2020

New IFR Covering Forgiveness Released Last Evening by US Treasury

A new interim final rule was posted last night: https://home.treasury.gov/system/files/136/PPP--IFR--Revisions-to-Loan-Forgiveness-Interim-Final-Rule-and-SBA-Loan-Review-Procedures-Interim-Final-Rule.pdf

We currently are reviewing the document. As far as we could tell, there wasn’t a lot of new information. We do think it answers one consistent question- which is if someone switches from the 8-week to 24-week covered period and they spend all of the money in week 10, they do not have to wait until the end of the 24-week covered period to apply for forgiveness. Before, it was very unclear and we couldn’t find “permission” for them to do that.

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"To empower community banks to make positive impact within the communities they serve."