June 18

Last Chance to Apply for Paycheck Protection Program Loan

Reading Time: 2 minutes   Small businesses and other eligible organizations/individuals still have an opportunity to obtain a potentially forgivable Paycheck Protection Program loan to help fund their payroll costs and certain non-payroll costs (i.e. mortgage interest, rent and utilities) during this time of economic uncertainty. While there is still $129 Billion of funds available in the Paycheck Protection.

June 5

Paycheck Protection Program Flexibility Act Signed Into Law

Reading Time: 3 minutes     Today, the President signed into law the Paycheck Protection Program Flexibility Act of 2020. The provisions of the new bill significantly modify the Paycheck Protection Program and give borrowers greater flexibility in using loan proceeds as well as obtaining loan forgiveness. The new provisions include the following: Extension of the covered period from.

May 27

SBA Releases New Guidance on PPP Loan Forgiveness

Reading Time: 4 minutes   On Friday, May 22nd, the U.S. Small Business Administration (SBA) released guidance on the Paycheck Protection Program loan forgiveness. The 26-page Interim Final Rule (IFR) provides some clarity concerning loan forgiveness requirements and is intended to help Paycheck Protection Program borrowers prepare and submit loan forgiveness applications as provided for in the CARES Act..

May 19

PPP Loan Forgiveness Application Released by SBA

Reading Time: 3 minutes   On Friday, May 15th, the Small Business Administration (SBA) released their Paycheck Protection Program (PPP) loan forgiveness application and instructions. The new form provides step-by step instructions on how to calculate the amount that is eligible for loan forgiveness. In addition, the form includes some new measures that are intended to simplify the process.

May 13

Good-Faith Certification Under the Paycheck Protection Program

Reading Time: 2 minutes     The U.S. Small Business Administration (SBA) and the Department of Treasury issued new guidance today regarding the good-faith certification that is required of loan applicants under the Paycheck Protection Program. The good-faith certification specifically states that “the uncertainty of current economic conditions makes necessary the loan request to support the ongoing operations of.

March 31

5 Key Business Provisions of the CARES Act

Reading Time: 4 minutes   Congress has passed a monumental economic stimulus package, the Coronavirus Aid, Relief and Economic Security (CARES) Act, created in response to the coronavirus pandemic. The $2 trillion stimulus package was designed to provide much needed aid to individuals and businesses who have been impacted by the ongoing health and economic crisis. Included in the.

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