New PPP Guidance from Small Business Administration
The Small Business Administration (SBA) issued new PPP loan Interim Final Guidance (IFR) on August 24, 2020, on Treatment of Owners and Forgiveness of Certain Nonpayroll Costs, in addition to new PPP loan forgiveness FAQs on August 4, 2020, and EIDL loan FAQs on August 11, 2020. This interim final
Executive Orders Target Economic Relief as HEALS Act Delays Continue
President Trump announced four pandemic relief executive orders on August 8, 2020 in response to the lack of progress by Congress in passing the Health, Economic Assistance, Liability Protection, and Schools (HEALS) Act. While whether the President has the authority to change federal taxes and extend federal spending without Congressional
SBA Opens PPP Loan Forgiveness Application Portal August 10
The Small Business Association (SBA) will accepting PPP loan forgiveness applications submitted by lenders on its portal beginning August 10, 2020. The portal’s opening date is subject to extension if Congress makes changes to the loan forgiveness process, and current legislation is being considered for automatic forgiveness of PPP loans
PPP Guidance Released June 22: Apply for Loan Forgiveness Early
PPP loan recipients can apply for loan forgiveness before their 24-week covered period ends, according to the Small Business Administration (SBA) and US Treasury Interim Final guidance issued Monday, June 22, 2020. This guidance follows the Paycheck Protection Program (PPP) Flexibility Act (Flexibility Act) of 2020 which was signed into
PPP Flexibility Act: Time Granted, Changes to Loan Forgiveness Terms
On June 3, 2020, the Senate passed a bill modifying the provisions related to the forgiveness of loans made to small businesses under the Paycheck Protection Program implemented in response to COVID-19. At the time of publication, this bill is awaiting the President’s signature. To alleviate the problem many small
Ohio Valley ABC Ask the Experts: CARES Act, PPP Forgiveness for Contractors
In May, Ohio Valley Associated Builders and Contractors (ABC) and Barnes Dennig partnered on an Ask the Experts panel discussion on PPP loans and other aspects of the CARES Act and the FFCRA. This summary outlines the questions and answers from that session. The on-demand recording is also available for