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Tag: Paycheck Protection

Paycheck Protection Program Update for 4/3/2020

Apr 03, 2020
Last night the SBA issued their interim final rule with regard to the loan submission process. Today in our daily update we want to share with you our takeaways from this document. 1. The rate has increased…

Paycheck Protection Program Update for 4/6/2020

Apr 06, 2020
Although there has been a lot of discussions and attempts to interpret some of the guidance issued late last Thursday from the SBA, there has not been a lot of clarification for the program. Our impression…

Paycheck Protection Update for 4/8/2020

Apr 08, 2020
The Small Business Administration issued FAQs on April 6 in response to demands from banks and borrowers to provide greater clarity as to what information is required for purposes of obtaining a Paycheck…

Paycheck Protection Update for 4/24/2020

Apr 24, 2020
With yesterday's Congressional approval for an additional $310 billion in Paycheck Protection Program (PPP) loans we are once again initiating our daily blog. As you read below, please keep in mind that…

AICPA Urges SBA to Release Guidance for PPP Loan Forgiveness

May 06, 2020
The American Institute of Certified Public Accountants (AICPA) is urging the Treasury Department and the U.S. Small Business Administration (SBA) to release key guidance on Paycheck Protection Program…

Paycheck Protection Program Update for 5/7/2020

May 07, 2020
What does economic uncertainty mean? That ambiguous and subjective certification from your Paycheck Protection Program loan application has been a hot topic over the last week or so. The SBA has published…

Paycheck Protection Program Update for 5/11/2020

May 11, 2020
While we are still waiting on additional guidance from the SBA in regards to the PPP loan forgiveness guidelines we came across this article from Forbes that we thought might be useful to you in the meantime:…

Paycheck Protection Program Update for 5/14/2020

May 14, 2020
The Small Business Administration finally offered clarification yesterday, May 13, which provided an important safe harbor for the necessity certification in regards to PPP loans. They clarified that…

Paycheck Protection Program Update for 5/20/2020

May 20, 2020
PPP Loan Forgiveness Application Released On May 15th, The U.S. Department of Treasury’s Small Business Administration (SBA) finally released the Paycheck Protection Program (PPP) loan forgiveness application.…

Paycheck Protection Update for 6/3/2020

Jun 04, 2020
On May 28th the House passed the Paycheck Protection Program (PPP) Flexibility Act of 2020 (H.R. 7010) which is intended to address the challenges that business owners have faced with their PPP loans and…