Paycheck Protection Program The Paycheck Protection Program (PPP) is a Small Business Administration (SBA) loan made available to businesses with fewer than 500 employees (including sole proprietors, independent contractors and self-employed persons). Businesses in the…
The COVID-19 pandemic has resulted in high unemployment rates and left many households struggling to make ends meet. Under normal circumstances one would be advised to avoid accessing retirement account funds early. However, with the…
On Wednesday, the U.S. House voted to approve a five-week extension of the PPP loan application deadline. First passed by the Senate on Tuesday, the bill is now in the hands of President Trump, who…
Late on Tuesday, June 30, 2020, the Senate passed legislation to extend the deadline for small businesses to apply for COVID-19 related aid under the Paycheck Protection Program (PPP) to August 8, 2020. While it…
The path to PPP loan forgiveness continues to evolve. Below we provide a more detailed summary of the changes resulting from the Paycheck Protection Program Flexibility Act (PPPFA) as well as additional guidance and clarification…
The PPPFA was signed into law by President Trump on June 5, 2020. The new law eases PPP loan requirements so that borrowers are better able to achieve full loan forgiveness. Following is a brief…
The U.S. Senate has passed by unanimous consent legislation introduced as the Paycheck Protection Program Flexibility Act of 2020, H.R. 7010. The bill which among other things extends the window for businesses to spend the…
Yesterday, U.S. House lawmakers approved the Paycheck Protection Program Flexibility Act of 2020, H.R. 7010. If passed by the Senate and enacted as is, this legislation would do the following: Extend the PPP loan application…
The SBA has issued the application form that borrowers are required to submit when seeking PPP Loan forgiveness. It is important to note that borrowers may not file the loan forgiveness application until at least…
Once again, the SBA has moved the safe harbor extension deadline for the return of PPP loans. Borrowers now have until May 18, 2020 to return the funds should they determine they are unable to…