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, […]
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 […]
The programs and initiatives in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was just passed by Congress are intended to assist business owners with whatever needs they have right now. When implemented, there will be many new resources available for small businesses, as well as certain nonprofits and other employers. This […]