PPP loan forgiveness update

74% of Total PPP Loan Dollar Amount has Applied for Forgiveness Since the Paycheck Protection Program’s starting date on April 3rd, 2020, the SBA has aided millions of small businesses affected by the COVID-19 pandemic and provided nearly $800 billion to USA’s Main...

SBA streamlines forgiveness for smaller PPP loans

The Small Business Administration (SBA) has released new guidance intended to expedite the forgiveness process for certain borrowers under the Paycheck Protection Program (PPP). The simplified process generally is available for loans of $150,000 or less, which the SBA...

PPP first-draw forgiveness & repayment

The end of the principal and interest payment deferral period is rapidly approaching for many businesses that received first-draw loans under the Paycheck Protection Program (PPP1). To avoid having to make payments, if you have not filed for your PPP1 forgiveness,...

New stimulus business and nonprofit benefits

President Biden has signed into law The American Rescue Plan Act 2021 (ARPA), which includes $1.9 trillion in funding for individuals, businesses, and state and local governments. The latest stimulus package contains benefits for businesses and nonprofits. It...

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SBA clarifies deferral period for PPP payments

The US Small Business Administration released guidance Wednesday clarifying that lenders must recognize the previously established extended deferral period for payments on the principal,...

Ready to file for PPP Forgiveness?

There is no question that PPP loan borrowers who wish to apply for forgiveness and release the burden of their PPP loan are eager to move forward. Uncertainty, however, remains. Although...

PPP loan forgiveness? Don’t rush in

On Aug. 10, the U.S. Small Business Administration opened its loan forgiveness portal in the wake of a contested battle about future legislation for COVID-19 relief. There are several...

Who’s subject to PPP Owner-Employee Forgiveness Limits?

The U.S. Small Business Administration (SBA) and Treasury issued an interim final rule Monday addressing Paycheck Protection Program (PPP) forgiveness issues related to owner-employee...

What’s In the Recent Executive Orders?

In advance of a new stimulus package agreement, the White House issued an executive order and three memoranda over the weekend. This executive action is said to provide economic relief...

Treasury Issues New FAQs on PPP Loan Forgiveness

As the Small Business Administration (SBA) prepares to accept forgiveness documentation from lenders via its Paycheck Protection Program (PPP) Forgiveness Platform beginning on August 10,...

What’s in the latest PPP loan forgiveness FAQs?

FAQs on PPP Loan Forgiveness Issued by SBA with Some Surprises on Shareholder-Employee Payroll Costs The Small Business Administration (SBA), in consultation with the Department of the...

Don’t Rush PPP Forgiveness: More Changes are Coming

Although forgiveness for Paycheck Protection Program (PPP) loans is front of mind for borrowers, experts say not to rush to apply for forgiveness. More Changes Coming Frequently Asked...

New Stimulus Proposal: The Heals Act

An intensifying coronavirus pandemic has prompted Congress to look at a second round of stimulus as the recession continues to deepen. On July 27th, Senate Republicans announced the Heals...

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