PAYCHECK PROTECTION PROGRAM (PPP) LOAN
EFFECTIVE MAY 15, 2020
Aloha PMAG Physicians,
 
Many physicians have already received their PPP loan and/or EIDL. The next step is to apply for the loan forgiveness portion.
 
If your lender has not provided you with a PPP Loan Forgiveness Application, you may use this form . Once completed, please forward this application to your lender.  

Altres has also put together an eBook for your information. You may click here to download.
 
If you have not yet applied for the PPP and/or EIDL, you may find a summary here for your information. The PPP application ends on June 30, 2020. However, due to overwhelming demand, the funding might run out again as it did in April 2020. It is recommended that you apply as soon as possible as it takes a few weeks for loan approval and a few more weeks for you to receive the funding. Many banks and credit unions have already closed their PPP application portal due to high volume of applications. We will continue to search for lenders that are still accepting PPP applications for our PMAG members.
 
For more details regarding the PPP loan and EIDL, visit the website or click here for a summary .

The good news is that PPP loan and EIDL forgiveness portion is not subject to GET . See Tax Information Release 2020-02 ( revised ). We recommend you work with your tax professional when filing GET or income taxes.

If you have any questions, please feel free to contact me via email, mmartinson@pqhhawaii.com or call 476-8013. Thank you.

Sincerely,

Maggie Martinson
PQH Director of Practice Development