Aug 28, 2020
Questions about Covered Period Start and End dates?
- Please read the definition of Covered Period and/or Alternative Payroll Covered Period in the Form 3508/3508 EZ Instructions for Borrowers- screenshot below. To access the full instructions for the Paycheck Protection Program Forgiveness Application Forms, click HERE.
- When preparing your applications for Forgiveness, keep in mind the SBA has validations in place to require the Covered Period Start/End Dates and/or Alt Covered Period Start/End Dates to reflect the full 8 or 24 week periods. This is true even for borrowers that would like to submit for Forgiveness earlier than the Covered Period/Alt Covered Period End Date. Q&A screenshot below from an SBA presentation.
- As a lender, you will need to confirm the Covered Period dates in Quickstart > Forgiveness Menu > General tab: