KEY TAKEAWAYS - 1. Borrowers that utilize bi-weekly and weekly payroll schedules may choose to use an Alternative Payroll Covered Period which begins the first day of the first pay period following the disbursement of the PPP...more
KEY TAKEAWAYS - 1. On May 13, 2020, the Treasury Department created a new safe harbor for borrowers regarding whether the required certification (see below) contained in the PPP Loan application was made in good faith. ...more
On April 24, 2020, President Trump signed legislation that provides $484 billion in additional funding for the SBA, hospitals, and coronavirus testing through the Coronavirus Aid, Relief, and Economic Security (CARES) Act. ...more
KEY TAKEAWAYS - 1. Size standards have been established for most types of economic activity, or industry, generally under the North American Industry Classification System (NAICS). 2. In an effort to achieve the goals of the...more