PPP borrowers should consult the documentation checklist on page 7 of the Forgiveness Application Instructions or S. 4 of the EZ Forgiveness Application Instructions, if any, to confirm that they have all the necessary materials. PPP borrowers can avoid these reductions by restoring employment and compensation levels to 22020 until December 31, 2020 for changes made between February 15, 2020 and April 26, 2020.  In order to benefit from this refuge, it is necessary to eliminate, by 31 December 2020, all reductions in the employment level of the ETP, due to the recovery of the level of employment of FTEs; there is no partial credit.  Finally, under the Flexibility Act, the credit requirement is defined without taking into account a proportionate reduction in the number of ETP employees, when the borrower is able to document in good faith that the brokerage fees are paid by the lender from the fees that the lender bears from the SBAs. Agents must not collect fees from the borrower or be paid on the proceeds of the PPP loan. The total amount an agent can withdraw from the lender to help prepare a PPP loan application (including referral to the lender) must not exceed: no payment will be due for a P3 loan until sBA has paid the lender`s P3 amount or informed the lender that no forgiveness is granted. , but during this period, interest will be generated.  Second, most banks charge monthly or quarterly payments in principal and interest until they mature. However, any borrower who does not apply for an order within ten months of the expiry of his eight-week or 24-week period must begin paying the principal and interest payments at the expiry or expiry of that 10-month period.  Lenders must notify borrowers if the SBA pays the amount of the pardon or finds that no pardon is allowed. For a description of the pardon process, see E.16 below for an explanation of the period covered and E.28 below. The SBA last night published the “last” PPP credit application. The loan application does not clarify the circumstances under which a lender is required to pay an agent. Many questions were asked about the use of an “agent” by a borrower or lender to assist the borrower in preparing their P3 application or to assist the borrower or lender in processing, monitoring or serving the loan. The law states that “agents” are paid by the lender from the lender`s fees. Does this mean that the lender has to pay an agent if the borrower is looking for help and then informs the lender that they are using an agent? Does the lender have an obligation to pay an agent only if the lender has called in the agent? When a PPP borrower intends to rely on the Safe Harbor 1 ETF and is unable to return to pre-crisis activity levels due to health and safety restrictions, the SBA asks the borrower to demonstrate that the reduction in activity during the period covered is directly or indirectly due to compliance with COVID requirements or guidelines. This documentation contains copies of COVID requirements or guidelines for each activity site and relevant financial data.