Many borrowers who received a Paycheck Protection Program loan have now passed their 8 week “covered period” and are preparing to apply for forgiveness for the loan. To my knowledge, none of the major lenders are prepared to accept forgiveness applications yet....
Are you in a panic about spending your PPP before your 8 week deadline runs out in order to maximize the amount that will be forgiven? Relax, pour yourself a cold drink, and pull out your calendar. Because on June 5, the President signed the Paycheck Protection...
At long last, the SBA has released an application for Paycheck Protection Program loan forgiveness. Remember how relatively easy it was to get the PPP? Yes, the lender websites were jammed up and there was a lot of confusion about exactly how to apply. But once you...
Many of you have received your PPP and naturally want to ensure that the maximum amount is ultimately forgiven – ideally 100%! Here is a more detailed explanation of how and when you need to spend your funds, based on the latest Treasury Department guidance as...
Great news! Many small businesses who were shut out of the first round of Paycheck Protection Program funds have now had their PPP loans approved from the second round of funding totaling $310 billion. They have either received funds, or are expecting funds as early...
Did you apply for an Economic Injury Disaster Loan (EIDL) through the SBA when the CARES package was first announced at the end of March? To refresh your memory, this was the loan processed through the SBA (not your bank) at the reasonable rate of 3.75% and 30 year...
