The SBA has continuously been updating their FAQs related to the new PPP Loan Program. Here is a question we have been waiting to have formally answered which was released today (8 April 2020):
Question: The amount of forgiveness of a PPP loan depends on the borrower’s payroll costs over an eight-week period; when does…
Dear Clients and Friends,
Yesterday (April 6) the Treasury Department released an FAQ document to both borrowers and lenders, providing additional guidance to some of the Payroll Protection Program’s (PPP) most pressing questions to aid in alleviating vagueness between the PPP Application and previous guidance issued the week prior. The responses provided in the FAQ…
Dear Clients and Friends,
As we previously communicated, the Treasury Department released some guidance (PPP Guidance) related to the Payroll Protection Program (PPP) on Tuesday, March 31. As part of the release, it communicated that the application process would open today and that it would be on a first-come, first-served basis. Although the guidance…
To remain committed to keeping you informed during this uncertain time, we are providing this document (Coronavirus Emergency Loans Small Business Guide and Checklist) prepared by the U.S. Chamber of Commerce.
Dear Clients and Friends,
This is a follow-up to our publication from last Friday related to the latest economic stimulus package, the CARES Act, which was passed into law in response to the COVID-19 pandemic. The SBA has been tasked with leading the charge to get businesses the cash they need to retain employees and…
We are all adjusting to a changing economic environment in the midst of the COVID-19 Pandemic. While our personal lives and work environments have been changing by the hour, we have been anticipating federal stimulus action for what seems like a delayed period of time.
In light of Governor DeWine’s recent announcement, we will be altering our office operations through April 6. We will continue to remain operational and available to you, but will do so completely remote. We ask that you please send information electronically (preferred method) or via the postal service. We will no longer be accepting information…
On Friday morning, Secretary Mnuchin indicated in a tweet and in a speech that the filing deadline was being moved. Friday evening the Treasury released Notice 2020-18, providing the details. Not only did the notice provide for a movement of the due date, but it superseded Notice 2020-17, which had indicated that payments of $1…
President Trump has signed into law the Families First Coronavirus Response Act. Among other things, the new law temporarily requires certain employers to provide expanded paid sick and family leave for employees affected by the coronavirus (COVID-19) pandemic. Employers’ increased costs will be offset by new tax credits, which also may be available to self-employed…
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