PPP UPDATE – PPP Flexibility Act Reduces Amount Required to be Spent on Payroll; Expands Time Period for Forgiveness and Rehiring Employees; Permits Forgiveness Recipients to Defer Payroll Taxes...more
Late Friday, May 15th, the SBA released the PPP “Loan Forgiveness Application Form” and related addendums and instructions, which provide additional guidance and new details on how loan forgiveness will be calculated and...more
The SBA released additional guidance on the required good-faith certification regarding the necessity of PPP loans. Key points...more
1. ALL PPP Borrowers Must Review New Certification Guidance, Whether Public or Private; Loans Over $2 Million Will Be Subject to Mandatory Audit; Safe Harbor Expires May 7...more
1. The Paycheck Protection Program and Healthcare Enforcement Act: What You Need to Know -
On April 24, 2020, the President signed into law the Paycheck Protection Program and Healthcare Enhancement Act (the “Act”), amending...more
The U.S. Small Business Administration (SBA) is authorized to guarantee up to $349 billion in loans to eligible borrowers through the Paycheck Protection Program (PPP). As detailed below, these loans are then forgiven after...more
4/7/2020
/ Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Relief
The Paycheck Protection Program (PPP) is now live and some authorized Lenders are already processing applications from Borrowers. As anticipated, there is very high demand....more
The Department of the Treasury and the Small Business Administration (SBA) have released a sample application form for the Paycheck Protection Program (PPP) and related guidance, which is available at the following links...more
4/3/2020
/ Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business
CARES Act (Coronavirus Aid, Relief, and Economic Security Act) -
Below is a summary of certain provisions of HR 748, the bill approved by the Senate on March 25, 2020. Please note that the legislation still requires...more
3/26/2020
/ Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Financial Stimulus ,
Individual Retirement Account (IRA) ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
Required Minimum Distributions ,
Small Business ,
Tax Relief