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Published: Oct 06, 2020 9 min read
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When the government announced the Paycheck Protection Program earlier this year, it said that pandemic-stricken business owners wouldn't have to pay back funds if used for certain purposes — namely, payroll costs, interest on rent or mortgages, and utilities.

Now, it's finally making good on those promises. A Treasury Department spokesperson confirmed to Money that PPP loan forgiveness decisions and payments were set to start rolling out late last week.

Although this comes as welcome news to millions of PPP recipients, tons of questions about the specifics remain. The PPP has been convoluted ever since it was created by the CARES Act, and the forgiveness process is no exception. It's hard to keep up with the incremental developments, especially as House Speaker Nancy Pelosi and Treasury Secretary Steve Mnuchin continue to battle over the details of another stimulus package — and possible additional support for the nation's small businesses.

To help you cut through the noise, here are five things you need to know.

What's happening with the PPP?

Well, it was a busy summer. After a rollout riddled with tech glitches, the PPP closed and then reopened before closing again. In June, the rules on how much of a loan had to be used for payroll dropped thanks to the Payroll Protection Program Flexibility Act of 2020.