02 Jul

Posted at 15:55h in COVID-19, HR and Operations by . .

News Brief headerCongress has passed legislation to extend the application deadline for a Paycheck Protection Program (PPP) loan through Aug. 8, 2020.

Prior to the extension, the deadline to apply for these funds was June 30, 2020. The extension enables eligible small businesses to apply for funding for five more weeks. The legislation has been sent to President Trump, who is expected to sign the measure into law.

18 Jun

Posted at 17:05h in COVID-19, HR and Operations by . .

The Small Business Administration (SBA) and Department of Treasury recently released a streamlined loan forgiveness application called the EZ Forgiveness Application. This newly-released three-page EZ application is significantly shorter than the traditional loan forgiveness application and requires fewer calculations and less documentation than the full application. WHO CAN USE THIS STREAMLINED APPLICATION? According to the SBA, […]

05 Jun

Posted at 15:45h in COVID-19, HR and Operations by . .

Since being established as part of the Coronavirus Aid, Relief and Economic Security Act in March 2020, the Paycheck Protection Program (PPP) has been the subject of additional stimulus bills, legal guidance and interim final rules. In the latest development, Congress passed the Paycheck Protection Program Flexibility Act of 2020, which is a bill that […]

29 May

Posted at 20:29h in COVID-19 by . .

The Small Business Administration (SBA) recently released two additional final interim rules to provide further guidance for Paycheck Protection Program (PPP) loan borrowers and lenders. Specifically, the two rules provide guidance for loan review procedures, loan forgiveness, and borrower and lender responsibilities. This article provides a general overview of the two final interim rules. For […]