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Showing 6 posts in Payroll Protection Program (PPP).
Deadline to Apply for PPP Loans Extended to May 31, 2021
Employers hoping to take advantage of the Paycheck Protection Program in 2021 have a bit more time to apply. On March 30, President Biden signed the PPP Extension Act of 2021, which extends the application deadline to May 31, 2021 and extends the PPP authorization through June 30, 2021 to provide the Small Business Administration additional time to process applications received by the May 31 deadline. More >
New Guidance on Change of Ownership Issues for PPP Loans
Under the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, small businesses around the nation have received Paycheck Protection Program (“PPP”) loans to stay afloat during the pandemic, but the rules regarding these disbursements haven’t always been so clear. On October 2, 2020, the Small Business Administration (“SBA”) issued guidance to all SBA employees and PPP lenders to clarify the requirements around the ownership of businesses receiving PPP loans. More >
Payroll Protection Program Flexibility Act provides some latitude with loans
The Payroll Protection Program Flexibility Act (PPPFA) was signed into law on June 5, 2020. The Act is intended to address several concerns expressed by stakeholders regarding the Payroll Protection Program (PPP) that was introduced as a part of the Coronavirus Aid, Relief, and Economic Security Act passed on March 27, 2020. More >
Payroll Protection Program Loan Forgiveness Applications Now Available
The United States Small Business Administration (SBA) has made the applications for Payroll Protection Program (PPP) loan forgiveness available on their website.
Businesses who obtained PPP loans as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act are eligible to have those loans forgiven in full if used within an eight-week period for a specific set of payroll and business needs. More >
Additional Guidance Provided for PPP Loans as Policing of Funds Begins
The Payroll Protection Program (PPP), established as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, extended a lifeline to businesses during the COVID-19 pandemic by making more than $650 billion dollars in loans available along with the opportunity for full loan forgiveness if certain criteria are met. This amount of money, however, brings an increased likelihood for scrutiny from the Federal government. More >
Congress approves extension for PPP and EIDL programs
After the initial funding for the Payroll Protection Program (PPP) and the Economic Injury Disaster Loan program (EIDL) were exhausted, Congress acted last week to extend those benefits to help businesses navigate the fallout of the COVID-19 pandemic. These programs have been a much-needed boost for businesses. More >
