On May 22, 2020, the SBA released its Interim Final Rule on Paycheck Protection Program Loan Forgiveness (“IFR”). On June 5, 2020, the President signed the “Paycheck Protection Program Flexibility Act of 2020.” Both made...more
6/8/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Employee Retention ,
Loan Forgiveness ,
New Legislation ,
OSHA ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Safe Harbors ,
SBA ,
Small Business Loans
On the evening of May 15, 2020, the SBA released its long-awaited Paycheck Protection Program Loan Forgiveness Application and Instructions. Completing the application is fairly straightforward. But to complete the...more
Now that the country has experienced the First Day of the rollout of the Paycheck Protection Program, there has been feedback in the press and from our borrower and lender clients about issues they encountered. Reviewing...more
4/9/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Financial Stimulus ,
Lenders ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Relief
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), among other things, established a loan program for small businesses that can immediately infuse working capital to pay certain payroll costs and other...more
4/3/2020
/ Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Financial Stimulus ,
Lenders ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
SBA ,
SBA Lending Programs ,
Small Business
Paycheck Protection Program
- These loans are going to be made by banks, credit unions and some other lenders, guaranteed 100% by the SBA.
- Eligible borrowers are any business concern, nonprofit, veterans...more