A significant part of the March 2020 CARES Act, the federal government’s Paycheck Protection Program (PPP) provided a lifeline for hundreds of thousands of small businesses across the nation, helping struggling owners pay...more
On June 5, 2020, President Trump signed the Paycheck Protection Program Flexibility Act of 2020 (“PPPFA”), which makes several critical changes to the Paycheck Protection Program (“PPP”) that should provide relief to many...more
6/10/2020
/ Borrowers ,
CARES Act ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Payroll Taxes ,
SBA ,
Small Business ,
Small Business Loans ,
U.S. Treasury
Loan forgiveness is one of the key features of the government’s economic stimulus response to COVID-19. The U.S. Department of Treasury has now issued interim final rules on qualifying for forgiveness under the Paycheck...more
On late Friday, May 15, 2020, U.S. Department of the Treasury and SBA issued the Paycheck Protection Program Loan Forgiveness Application. The application consists of four components: (1) the PPP Loan Forgiveness Calculation...more
On May 13, 2020, U.S. Department of the Treasury and SBA added an additional question and answer to its Paycheck Protection Program Frequently Asked Questions that addresses the requirement that all applicants must certify...more