Yesterday, Treasury posted two new forgiveness applications: a revised version of the longer form and a new EZ form. Linked below are both the applications and the instructions (which are pretty helpful in navigating the ins and outs of the program). The new applications take into account the ...
While many have been appreciative of the PPP, some businesses are struggling with some of the forgiveness requirements. The PPP Flexibility Act (HR 7010 -- Amendment to CARES and PPP SIGNED 060520) signed into law on Friday resolves some of those issues as summarized below (summary courtesy of Zac ...
Last Friday, the SBA/Treasury issued an Interim Final Rule (gotta love the oxymoron of just the name of this document) for "Requirements – Loan Forgiveness", linked for your reference.
Some of the topics that you might find of interest:
2. Loan Forgiveness Process - What is the general proce ...
The SBA recently released (5/15) the first version of the PPP forgiveness application (linked below). There are certainly going to be tweaks to it going forward, but it does provide specific guidance and calculations for a number of open issues such as: alternative payroll periods, paid vs. incu ...
Hopefully at this point you have received your PPP funds if you applied for them (if still waiting, there are a few banks still taking applications, let me know). And now you are wondering about the forgiveness side of the equation and how the heck do we account for the funds received and hopefull ...
By Brandon Mack
The International Business Brokers Association (IBBA) and M&A Source have recently published their first quarter market research for 2020. The report is a statistical analysis of 416 respondents who answered this quarter’s 25 question survey. This is the final of a three-par ...
By Brandon Mack
The International Business Brokers Association (IBBA) and M&A Source have recently published their first quarter market research for 2020. The report is a statistical analysis of 416 respondents who answered this quarter’s 25 question survey. This is the second of a three-pa ...
The SBA just updated their FAQs (5-5-20). Some new items addressed:
Defined the 8-week period for forgiveness calculations as "The eight-week period begins on the date the lender makes the first disbursement of the PPP loan to the borrower"
Extended the safe harbor deadline to May 14, 20 ...
By Brandon Mack
The International Business Brokers Association (IBBA) and M&A Source have recently published their first quarter market research for 2020. The report is a statistical analysis of 416 respondents who answered this quarter’s 25 question survey. This is the first of a three-par ...
By now you have probably heard that the PPP will get an additional $310B of funding as the first round of $349B was quickly depleted. This is good news for those of you who applied in the first round but did not get funding, or if you didn’t feel like you needed it then, but circumstances ...
Nice summary table of the Paycheck Protection Program (PPP) by the Economic Innovation Group.
Paycheck Protection Program Overview (Economic Innovation Group) 032920 ...
On Friday, March 27th, the US Government officially approved the Coronavirus Aid, Relief, and Economic Security (CARES) Act, a $2 trillion stimulus bill.
There are several provisions of the CARES Act that, if the qualifications are met, will help support your business and your employees while the ...
As small and large business alike grapple with the changing environment due to COVID-19, there are some existing SBA support mechanisms, as well as some proposed changes, that small business owners should be aware of:
Allison Zorich, CFE with Guidant Financial passed along these options for smal ...
By Brandon Mack
The International Business Brokers Association (IBBA) and M&A Source have recently published their fourth quarter market research for 2019. The report is a statistical analysis of 300 respondents who answered this quarter’s 25 question survey. This is the final of a three-pa ...
By Brandon Mack
The International Business Brokers Association (IBBA) and M&A Source have recently published their fourth quarter market research for 2019. The report is a statistical analysis of 300 respondents who answered this quarter’s 25 question survey. This is the second of a three-p ...
