October 5, 2020

Dear Clients, Colleagues and Friends,

As you may be aware, many banks and lenders have released their applications for PPP loan forgiveness. At this time, we recommend holding off on submitting forgiveness applications until at least November, as further modifications to the application and lender processes are expected. We will share significant updates as we receive them.

Our team is here to help during the PPP loan forgiveness process. P&N will continue to monitor the latest guidance issued by the U.S. Department of the Treasury and the U.S Small Business Administration. For all of our COVID-19 updates, please visit our website at www.pntax.com and our COVID-19 updates page at https://www.pntax.com/covid-19/.

If you have any questions or need further information, please contact your Presti & Naegele professional directly, or dial 212-736-0055 for immediate assistance. Stay safe.

Presti & Naegele