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Local Forgivable Loans and PPP Update

This past Friday, May 8th, Hamilton County Commissioner Denise Driehaus announced a new program within Hamilton County, Ohio to aid small businesses impacted by COVID-19 that were unable to obtain funding from the federal government.  The county received an allocation of $142 million from the CARES Act, $5 million of which has been set aside…

Reexamining the basis of your businesses’s certification pertaining to the necessity of the PPP loan

Dear Clients and Friends,

At this point, many of you have either received your PPP loan proceeds or expect to receive the loan proceeds very soon and are now turning your attention to utilizing the loan and maximizing forgiveness.  However, in light of some recent guidance from the Treasury, all companies and organizations that have…

President Signs Additional Funding for SBA Programs

Yesterday, the House of Representatives passed H. Res. 266, the Paycheck Protection Program and Health Care Enhancement Act, which was signed by President Trump this afternoon.  As many have probably followed within the news media, this resolution has appropriated additional funding to the highly sought Paycheck Protection Program (“PPP”) loans and other economic stimulus measures…

AICPA Resource: SBA Paycheck Protection Program (PPP) FAQs

“This series of frequently asked questions (FAQs) provides answers to questions we are hearing from our members about the Paycheck Protection Program (PPP).

Check back often as we will update these FAQs as more guidance is released.”

WEBSITE RESOURCE:  https://www.aicpa.org/interestareas/privatecompaniespracticesection/qualityservicesdelivery/sba-paycheck-protection-program-resources-for-cpas/sba-payroll-protection-program-faqs.html