Dear PPP borrower,

We know that you are interested in knowing exactly how to handle and calculate loan forgiveness.  To be clear, Newtek and ALL PPP lenders are still waiting on precise directions from the SBA and treasury on how to administer and service the loans and loan forgiveness. Partial information has been provided by the SBA and is available in your loan portal under FAQ.

We appreciate your patience until we can send you the precise forms and guidance on what documents are needed for verifying and calculating loan forgiveness.

Please be aware that the forgiveness period for calculating payroll has new options. The 75 percent hurdle for payroll is now 60 percent, but this hurdle is now an all or none for forgiveness.

Please message us at hello@newtekone.com if you have questions.

Regards,

Newtek Small Business Finance