Reading Time: 2 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.
Reading Time: 3 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..
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.
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.
Reading Time: 3 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.
Reading Time: 2 minutes Business owners have to make tough choices when it comes to providing benefits to their employees. Many companies, especially newer or smaller ones, may understandably prioritize flexibility. No one wants to get locked into a benefits offering that’s cumbersome to administer and expensive to maintain. Well, there’s one possibility that has the.
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