PPP Rent Forgiveness Letter to SBA
In late August, the Small Business Administration (SBA) ruled that rent forgiveness could be restricted due to “related parties” owning part of the restaurant building or property. We have strong objections to this rule because it wasn’t announced in a fair and timely manner and it will negatively impact many restaurants who should see full PPP rent forgiveness. Earlier this week we sent this letter to the SBA with our colleagues at the National Restaurant Association and other states, reiterating our concerns. We will keep you posted as this develops, but please keep an eye on it because it’s a critical issue to PPP forgiveness.