PPP Re-Opening Date Begins January 11 for “First Draw” PPP1 Loans; January 13 for PPP2
The Small Business Administration (SBA), in consultation with the Treasury Department, announced on January 8, 2021, that the Paycheck Protection Program (PPP)... Read More
SBA Issues New PPP1 & PPP2 Guidance for Businesses; What You Need to Know to Apply
The Small Business Administration has issued two interim final rules (IFRs) that consolidate rules for existing and new “first draw” Paycheck Protection Program... Read More
Paycheck Protection Program (PPP) Round 2; What You Need to Know to Apply
On December 27, 2020 the President signed into law the Consolidated Appropriations Act of 2021. A second round of Paycheck Protection Program... Read More
Paycheck Protection Program 2.0 – Congress Authorizes Round 2 of Funding for Borrowers
On December 21, Congress passed sweeping changes to the Paycheck Protection Program (PPP) as part of a $900 Billion Economic Relief Package... Read More
Congress Passes $900B Stimulus; Here is a Summary of the COVID-19 Economic Relief Package
After long months of negotiations, Congress has agreed on a second stimulus package, currently under the Consolidated Appropriations Act of 2021. The... Read More
Get Ready for Your PPP Loan Forgiveness Application | How To Prep & What to Expect
To apply for Paycheck Protection Program (PPP) loan forgiveness, you will need to complete either the SBA Form 3508, 3508EZ, 3508S, 3509,... Read More
Tax-Free Employee WFH Benefits? What Employers Should Know About Qualified Disaster Relief
The impact of the COVID-19 outbreak is dynamic and widespread, with both employers and their employees having to work in completely different... Read More
Accounting For PPP Loans: Forgivable Debt or Government Grant?
As year-end approaches, a common question for a business entity is how to account for its forgivable loan received under the Small... Read More
SBA Issues PPP Loan Necessity Questionnaire to $2M+ Borrowers; What You Should Know
The Small Business Administration (SBA) has begun issuing loan necessity questionnaires to Paycheck Protection Program (PPP) borrowers with PPP loans with an... Read More
Considering Selling or Merging a Business with PPP Loans? Understand the New SBA Notice Rules to Avoid a Delay Headache
On Friday, October 2nd the Small Business Administration (SBA) issued a procedural notice on PPP loans and changes of entity ownership. This... Read More