Financial Advisory Blog

Armanino’s Financial Advisory blog is your source for thought leadership around cloud ERP and accounting solutions and integrations. Supported by the Cloud Accounting Institute and numerous experts in cloud, finance, reporting, integration, compliance, and technology, Armanino’s Financial Advisory blog features must-read content on what’s happening in the finance industry, case studies, white papers, and much more.

July 23, 2020

Can we choose a Covered Period between eight weeks and 24 weeks (for example 16 weeks) to use the PPP funds? Or is it just either eight weeks OR 24 weeks?

Posted by Armanino Financial Advisory Team

Borrowers can select a Covered Period of either eight or 24 weeks and those are the only specified options. Understand that this does not preclude a borrower from filing their forgiveness application at some point between eight and 24 weeks, but this does not change the definition of your Covered Period — it will always be 24 weeks in this scenario.

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