Perspectives

A critical deadline is approaching for many of the businesses that have received loans under the Paycheck Protection Program, which was created in March 2020 by the CARES Act. Read more

Even though the Questionnaires are no longer required, it’s still important to keep all relevant documentation related to your PPP loan. Read more

For businesses with an outstanding approved application, the SBA says those loans will still be funded. Read more

The law doesn’t provide the PPP with any additional funding. However, $7.25 billion in additional funding was recently provided in the American Rescue Plan Act. Read more

There are numerous provisions included in the Consolidated Appropriations Act, 2021 that can provide much-needed relief. Read more

It’s important to note that “PPP Round Two” is not the same as “PPP Round One” including new eligibility requirements for second-time borrowers. Read more

Two key requirements are the borrower must have no more than 300 employees and generally also must demonstrate at least a 25% reduction in gross receipts in one quarter of 2020 compared with the same... Read more

We have been waiting for tax guidance concerning the treatment of expenses used to seek forgiveness of PPP Loans and now we have it. Read more

Borrowers who received a Paycheck Protection Program Loan of $2 million dollars or more will now be required to submit a Loan Necessity Questionnaire. Read more

In the upper right-hand corner of PPP Loan forgiveness application Forms 3508, 3508EZ, and 3508S, there is an expiration date listed of 10/31/2020. The SBA has confirmed that is not a deadline for borrowers... Read more