For those who borrowed money from the Paycheck Protection Program (PPP) in association with the Small Business Association (SBA), recipients have 10 months from the end of their 24-week covered period to apply for loan forgiveness before payments start coming due. For many, the time is now! While the SBA is trying to simplify things…
Yesterday, the Senate passed the PPP Extension Act of 2021, which extends the deadline for to apply for a first or second Paycheck Protection Program (PPP) loan to May 31. The Act also gives the Small Business Administration (SBA) an additional 30 days, until June 30, to process loan applications that are received by May…
The American Rescue Plan Act of 2021 was passed by Congress and signed into law by President Joseph R. Biden on March 11, 2021. It provides approximately $1.9 trillion in support and stimulus for individuals, businesses, other organizations, and state and local governments who have been affected by the COVID-19 pandemic. Here’s a highlight of…
In an effort to provide better access to PPP funding for small businesses, President Joseph Biden recently announced some changes to the PPP loan application process. Beginning today, February 24, 2021 and continuing for 14 days, the SBA will only accept applications from businesses with fewer than 20 employees. This exclusive window for small businesses…
Congress and the Trump administration have struck a deal on another piece of legislation, the latest in a series of federal measures intended to provide relief in response to the novel coronavirus (COVID-19) pandemic. The $484 billion legislation, which is being referred to as the Interim Stimulus Plan, amends the Coronavirus Aid, Relief and Economic…
PPP Loans We’ve been talking a lot recently about the various loans provided for in the CARES Act, particularly the Paycheck Protection Program (PPP), which in less than two weeks unfortunately ran out of the $349 billion in funding money this morning. Small businesses are continuing to submit loan applications and we understand that existing…