PPP Loan Provisions for Small Businesses
Beginning February 24, 2021, the Small Business Administration (SBA) is establishing an 14-day, exclusive PPP loan application period for businesses and nonprofits with fewer than 20 employees.
Beginning February 24, 2021, the Small Business Administration (SBA) is establishing an 14-day, exclusive PPP loan application period for businesses and nonprofits with fewer than 20 employees.
The SBA issued a new form making it easier for smaller borrowers to qualify for loan forgiveness and clarified due dates. Is your company eligible for the simplified paperwork?
President Trump extended acceptance of Paycheck Protection Program (PPP) loan applications until August 8, 2020, a five-week extension.
The SBA and Treasury agreed with U.S. Senate Small Business Committee bipartisan leadership to make public additional data regarding the Paycheck Protection Program (PPP).
With the enactment of the Paycheck Protection Program Flexibility Act, more than $129 billion in PPP funds are still available.
On May 15, 2020, the SBA published its PPP Loan Forgiveness Application, with instructions, providing some clarity about allowing borrowers to use their regular payroll schedule. Borrowers were concerned about matching their payroll cycle to the testing or covered period in the forgiveness formula.
The Trump Administration extended the deadline for companies to repay PPP loans from May 7, 2020 to May 14, 2020. The decision comes after many groups and organizations requested the administration provide additional time for companies to determine if they would return the funds.