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, 2020, the SBA has issued a new round of Frequently Asked Questions (FAQs)...

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 Act (Health, Economic Assistance Liability Protection & Schools Act), a $1...

Will your PPP Loan be automatically forgiven?

To date, the Paycheck Protection Program (PPP) has provided over 5 million loans, totaling nearly $520 billion. More than $130 billion remains for new applicants. Now, however, the question is how to handle forgiveness applications for such a large number of loans in...

Main Street Lending Program open to nonprofits

In late July, the Federal Reserve announced that not-for-profit organizations may now apply for loans under the $600 billion Main Street Lending Program. Previously open only to for-profit businesses with more than 100 employees, the program offers low-interest loans...

Main Street Lending Program

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Uncertainty Surrounds the SBA PPP and EIDL Programs

The U.S. Small Business Administration reported Saturday morning that banks had approved more than 725,000 loans from its $349 billion Paycheck Protection Program, totaling over $182...

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