“These uncertain times” has been an often used phrase over the course of the last several months, and in no facet of 2020 life is it more applicable than the Paycheck Protection Program (PPP) loans implemented as part of the...more
On Friday, June 5, 2020, President Trump signed the “Paycheck Protection Program Flexibility Act of 2020,” which makes the several welcome changes to the PPP loan provisions of the CARES Act, enacted on March 27, 2020. The...more
In IRS Notice 2020-32 issued on April 30, 2020, the IRS has clarified that no deduction is allowed for expenses paid with funds loaned to a business through the CARES Act’s Paycheck Protection Program if payment of the...more
The President signed the Paycheck Protection Program and Health Care Enhancement Act into law on April 24, 2020, injecting an additional $484 billion in aid to supplement the SBA business loan programs created under the CARES...more
4/28/2020
/ Applications ,
Borrowers ,
CARES Act ,
Credit Unions ,
Financial Institutions ,
Hotels ,
Paycheck Protection Program (PPP) ,
Restaurant Industry ,
SBA ,
Small Business ,
Small Business Loans
The Paycheck Protection Program (the “PPP”) established under the Coronavirus Aid, Relief and Economic Security (CARES) Act authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during...more
With numerous measures now in place at the federal, state and local levels, the following are some of the latest resources available to walk businesses through the relief programs enacted, including under the Coronavirus Aid,...more
Beginning on April 3, 2020, small businesses and sole proprietorships can apply for loans through the Paycheck Protection Program (the “PPP”) established under the Coronavirus Aid, Relief and Economic Security (CARES) Act....more
4/6/2020
/ Business Closures ,
Business Interruption ,
CARES Act ,
Centers for Medicare & Medicaid Services (CMS) ,
Coronavirus/COVID-19 ,
Department of Health and Human Services (HHS) ,
Federal Loans ,
Financial Stimulus ,
Health Care Providers ,
Lenders ,
Lending ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Securities and Exchange Commission (SEC) ,
Small Business ,
Tax Relief ,
Unemployment Insurance