(The.Idea.Exchange) Blog. Timely articles on a wide range of topics including new tax legislation, accounting regulations, best practices, industry news, business insights and more.
Treasury and the U.S. Small Business Administration (SBA) released new Paycheck Protection Program (PPP) guidance Friday night, May 22nd, that provides some clarity on several loan forgiveness questions but leaves key questions unanswered. The two new interim final rules issued…
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The SBA and the Treasury Department have released the eagerly awaited Paycheck Protection Program (PPP) loan forgiveness application and detailed instructions. The SBA explained that the application and instructions “include several measures to reduce compliance burdens and simplify the process…
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There is a new PPP interim final rule (the tenth) on increasing PPP loan amounts for partnerships and seasonal employers. Before this rule, small businesses that are structured as partnerships or classified as seasonal employers did not have any clear…
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UPDATED: On May 13th, the Treasury and SBA have released favorable guidance for the PPP economic need certification. They have also clarified that an employer that applied for a PPP loan, received payment, and repays the loan by the safe…
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IMPORTANT NOTE: The SBA and the Treasury Department have released the eagerly awaited Paycheck Protection Program (PPP) loan forgiveness application and detailed instructions. The Application and Instructions do not answer all key questions, but a number of calculations and substantive…
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The Federal Reserve Board recently announced changes to its new ‘Main Street Lending Program’ (MSLP), created to help small to medium-sized businesses that need access to cash because of the coronavirus pandemic. The MSLP provides a $600 billion fund to…
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The Business Invest – Illinois Small Business COVID-19 Relief Program (“Program”) is an impact investment loan program under which the State Treasurer Michael Frerichs has now made available up to $500 million in deposits to banks and credit unions throughout…
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