Any word on when this PPP loan can be forgiven ?

I was told the SBA has up to 90 days to review the application and provide a decision by our bank (small local bank).

My banker told me to hold off on asking for forgiveness in case of round two. My bank's reason was it would make things easier as we'd till be in the system. Don't know the validity of that, but it isn't hurting us to hold off for a bit. We also have some tax questions we're trying to get answered on the PPP, so we're staying put.

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FYI, I can't officially request forgiveness until next week bc we went the 24 week route.

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Not a requirement to wait the full 24 weeks if you have used all the funds (and have calculated that you are eligible for 100% forgiveness).

Any word on if they will allow you to write off the expenses the loan paid off or not? My cpa said that this is an issue that hasn’t been locked down yet.

So, our business is now eligible to apply for forgiveness. One question I can't figure out the answer to though - since we received a loan based on 8 weeks of payroll and the forgiveness extended to 24 weeks, we have clearly spent well over the required payroll amount to qualify for forgiveness. So on line 1 of the forgiveness application, do I put the total payroll costs for our 24 week period even if it exceeds the total loan amount? It seems like since we spent so much more on payroll during the covered period, even if we had a small FTE reduction, it would still qualify for full forgiveness since it would basically be reducing a number that is 3x bigger then the actual loan amount.