The U.S. Treasury Department released long-awaited guidance and the official application for PPP loan forgiveness on May 15, 2020.
Official guidance for the Paycheck Protection Program (PPP) on how to get your loan forgiven and turned into a grant has been the burning question since the popular program launched in early April. In just the first round of funding, the Treasury Department reported that the Arts, Entertainment & Recreation sector was awarded more than $4.9 billion in loans to 39,000+ organizations and gig workers.
Americans for the Arts and the Arts Action Fund will be scheduling a webinar very soon on these guidelines.
There is over $100 billion still available in the Paycheck Protection Program. I recommend that you apply as soon as possible before the funds are exhausted. To learn if you’re eligible, please go to www.ArtsActionFund.org/CaresActTable.