July 23, 2020
How much of the ESOP contribution paid within the Covered Period counts toward forgiveness?
Posted by Armanino Financial Advisory Team
There isn’t clear guidance on this yet. It’s unknown if the full amount of the ESOP contribution is forgivable, or if only a pro-rated amount of an annual contribution will be forgiven. It’s possible the SBA will issue further guidance on this in the coming weeks.