On May 15, 2020, the Small Business Administration (SBA), in consultation with the U.S. Department of Treasury (Treasury) released the Paycheck Protection Program (PPP) Loan Forgiveness Application (the Forgiveness...more
5/19/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Financial Stimulus ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Payroll Expenses ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business
On April 30, 2020, the Internal Revenue Service (IRS) issued Notice 2020-32, which provides that no deduction is allowed for expenses paid with loan money forgiven under the Coronavirus Aid, Relief, and Economic Security Act...more
On April 9, 2020, the U.S. Federal Reserve announced the creation of the Main Street New Loan Facility (Facility), to facilitate lending to small and medium-sized businesses by eligible lenders...more