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
PPP Loan Forgiveness: Change, Change, and More Change!
The first Paycheck Protection Program (PPP) loans were disbursed after April 3, 2020, so thousands of US small businesses are approaching the end of their 8-week covered period for the purpose of PPP loan forgiveness. An extension of time allowing small businesses to spread their PPP loan proceeds beyond 8
Paycheck Protection Program Flexibility Act Provides Relief from Some Restrictions
Paycheck Protection Program Flexibility Act of 2020: Correction to Some of the Restrictions to PPP Relief The House is reported to vote next week on the bipartisan “Paycheck Protection Program Flexibility Act of 2020” to correct some of the flaws in the original Paycheck Protection Program (PPP). Many small businesses
What You Need to Know About PPP Loan Forgiveness
The Small Business Administration (SBA) has released the application to obtain forgiveness of PPP loans, and in doing so has provided answers to many of the questions that our team and so many loan recipients have had, as we try to forecast the forgiveness and make business decisions. The full