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Tips for Supporting $2M+ PPP Loan Necessity

While forgiveness may be simplified for PPP loan borrowers of $50K or less, things may not be so simple for borrowers in excess of $2M. As we reported last week, the Small Business Administration (SBA) is expected to issue. Read More >>

SBA to Release New Forms to Validate PPP Loans in Excess of $2M

On October 26, 2020, the Small Business Administration (“SBA”) posted a notice stating that it intends to release two new forms relating to the infamous FAQ #31 relating to borrowers’ good faith certifications that “[c]urrent economic uncertainty makes this. Read More >>

Forgiveness Simplified for PPP Loans of $50K or Less

As U.S. taxpayers anxiously await potential movement on a new stimulus package, the Small Business Administration (SBA) and Treasury Department released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This effort aims. Read More >>

SBA and Treasury Address Owner-Employee Compensation and Rental Expenses in Latest PPP Guidance

Following on the heels of the U.S. Small Business Administration (SBA) and Treasury’s recent issuance of 23 new FAQs addressing Paycheck Protection Program (PPP) loan forgiveness, additional guidance has been issued related to owner-employee compensation and the eligibility of. Read More >>

PPP Forgiveness Applications – Should You Act Now or Wait?

Recently, the Small Business Administration (SBA) opened its portal for accepting forgiveness applications under the Paycheck Protection Program (PPP) . Over the next few weeks, banks will be preparing to start accepting forgiveness applications, although some lenders may wait. Read More >>

SBA Releases 23 New FAQs to Address PPP Loan Forgiveness

On Tuesday, August 4, 2020, The U.S. Small Business Administration (SBA), in consultation with Treasury, issued 23 frequently asked questions to help provide additional guidance around forgiveness of Paycheck Protection Program loans. The FAQs address four areas of PPP. Read More >>

Navigating Uncertainty for Future Success, Together

I wanted to share with you some thoughts on how COVID is affecting our clients, their go-forward strategies and our own firm as well. It’s a time when we’re all starving for normalcy and certainty. Many of us are. Read More >>

Ohio Issues CAT Guidance on PPP Loan Forgiveness

Companies who have received Paycheck Protection Program (PPP) loans through the CARES Act may be wondering how to treat the loan and potential forgiveness amounts for Ohio Commercial Activity Tax (CAT) purposes. The amount of the company’s PPP loan. Read More >>

Five Week Extension to PPP Loan Applications

Last night, the U.S. House of Representatives joined the Senate in passing an extension for companies to apply for PPP loans. This program, which ended on June 30th, will now be extended to August 8th, when the President signs. Read More >>

SBA Issues Revised “Borrower-Friendly” Forgiveness Applications

The U.S. Small Business Administration (SBA) has issued revised forgiveness applications for loans issued through the Paycheck Protection Program (PPP). According to the Department of the Treasury (Treasury), the revisions are “borrower-friendly” and implements the PPP Flexibility Act of. Read More >>