As we continue to field questions specific to the CARES Act and the recent guidance updates for government contractors we recently sat down with Pete Ragone, Director, SC&H Group, and Isaias “Cy” Alba, Partner, PilieroMazza PLLC to discuss many of the frequently asked questions.
The following discussion covers:
- Overview of PPP and Section 3610 of the CARES Act vs. DOD/NSA/OMB Guidance on the Issues and Differences
- Interplay Between Section 3610/PPP Loans and Related Forgiveness
- Impact to CAS-Covered Companies
- Pay Back PPP by May 7th vs. What to Keep vs. What May/Can Be Forgiven
It is important to note the need for government contractors to review the guidance that comes out from the various agencies and departments to gather an understanding of the potential complexities surrounding both PPP loans and Section 3610 funding.
We are taking a diligent approach to reviewing the information being issued by Federal agencies and will continue to provide updates. In the meantime, if you have any questions about this information, please Contact Us or Submit Questions here.