The Paycheck Protection Program closed on May 28, 2021. The SBA is no longer accepting new applications from participating lenders. The following FAQs are for informational purposes only and to assist borrowers who obtained...more
8/3/2021
/ Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Independent Contractors ,
IRS ,
Loan Forgiveness ,
NAICS ,
Paycheck Protection Program (PPP) ,
Payroll Expenses ,
SBA ,
Self Employed ,
Small Business ,
Tax Deductions
The Paycheck Protection Program closed on May 28, 2021. The SBA is no longer accepting new applications from participating lenders. The following FAQs are for informational purposes only and to assist borrowers who obtained...more
6/8/2021
/ American Rescue Plan Act of 2021 ,
Biden Administration ,
Borrowers ,
Business Expenses ,
CARES Act ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Economic Aid Act ,
Economic Injury Disaster Loans ,
Independent Contractors ,
Interim Final Rules (IFR) ,
IRS ,
Loan Forgiveness ,
NAICS ,
Paycheck Protection Program (PPP) ,
Payroll Expenses ,
Property Damage ,
Restaurant Industry ,
SBA ,
Small Business ,
U.S. Treasury ,
Vandalism
On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits and...more
4/1/2021
/ American Rescue Plan Act of 2021 ,
Biden Administration ,
Borrowers ,
Business Expenses ,
CARES Act ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Entertainment Venues ,
Financial Stimulus ,
Independent Contractors ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
NAICS ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Payroll Expenses ,
Public Venues ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Self Employed ,
Small Business ,
Tax Credits ,
Tax Deductions ,
Tax Returns ,
Trump Administration ,
U.S. Treasury
On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits...more
1/25/2021
/ Borrowers ,
Business Expenses ,
CARES Act ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Payroll Expenses ,
SBA ,
Small Business ,
U.S. Treasury
On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits...more
1/18/2021
/ Borrowers ,
Business Expenses ,
CARES Act ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Payroll Expenses ,
SBA ,
Small Business ,
Tax Deductions ,
U.S. Treasury
On October 26, 2020, the Small Business Administration (SBA) published a proposed Paycheck Protection Program (PPP) Loan Necessity Questionnaire for both for-profit and nonprofit borrowers in the Federal Register. This...more
Between May 20 and May 22, SBA announced three new Interim Final Rules and the U.S. Department of Justice (DOJ) announced three new fraud prosecutions stemming from PPP loans. Those prosecutions reflect that the DOJ does not...more
5/26/2020
/ Borrowers ,
CARES Act ,
Certifications ,
Coronavirus/COVID-19 ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Fraud ,
Interim Final Rules (IFR) ,
Lenders ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Recordkeeping Requirements ,
Safe Harbors ,
SBA ,
SBA Lending Programs ,
Statute of Limitations
Certain provisions of the coronavirus/COVID-19 economic stimulus legislation are subject to the issuance of government regulations and other government action; thus, certain details regarding the legislation may be clarified...more