202006.15
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Senators Agree PPP Forgiveness Application Requires Legal, Accounting Help to Complete, Ask SBA for Simplification

Senators on Friday urged the Treasury Department and Small Business Administration (SBA) to simplify the process for businesses to receive loan forgiveness under the Paycheck Protection Program (PPP). “In this public health and economic emergency, we must do all we can to make sure our small businesses have the support and assistance they need to weather the crisis,” they said in a letter to…

202006.10
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Don’t Leave Money on the Table: $130 Billion in Payroll Protection Program Cash is Still Available from the SBA

More than $130 billion in Payroll Protection Program funding is still available for small businesses, independent contractors, and nonprofits, but the opportunity is about to end. While the time to spend PPP money was just extended, the last day a PPP request (and essentially free money) can be made is only weeks away - June 30th, 2020. More…

202006.04
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Congress Extends PPP Spend Period

Congress just passed changes to the PPP program, now headed for presidential approval: Extends the eight-week spending period of PPP funds for an additional 16 weeks  Increases the repayment time for unforgiven funds to five years for most applicants  Changes the forgiveness requirement maximum for non-payroll expenses from 25% to 40%, with a severe penalty if the 40% is exceeded…