QUESTION:

Is the Alternative covered Period on for employers with bi-weekly or weekly payroll?

Last Updated 07.08.2020

SUGGESTED INFORMATION:

Covered Period:

  • The covered period starts once the first PPP funding is deposited into the businesses account. If there are multiple PPP payments, the covered period still starts once the first funds have been received. Eight-week (56-day) period.

Alternative Payroll Covered Period:

  • Borrowers with a biweekly (or more frequent) payroll schedule may elect to calculate eligible payroll costs using the eight-week (56-day) period that begins on the first day of their first pay period following their PPP Loan Disbursement Date