As of Monday night , the House has approved a $900 billion pandemic relief bill and was sending it to the Senate for late-night consideration after days of hard-fought negotiations. We are still waiting for a final signed bill and additional analysis on the final package. It does appear to […]
Insider has been tracking the SBA’s Payroll Protection Loan Program as so many of us owner/operators have taken advantage of the loans available through and administered by the banking community. We mentioned back in August that waiting on filing your forgiveness application would make sense as lawmakers were discussing the […]
Insider has reported on the Payroll Protection Program in which the SBA was tasked with supporting small businesses through a loan program that was ultimately funded to the tune of $659 billion. The PPP program was due to expire at midnight on June 30 with funds remaining, but just hours […]
With both the Senate and House approving changes to the Paycheck Protection Program, here is a quick summary of what is in the bill and one thing that is still left out. What’s Changed The following are the major changes to the Small Business Administration’s (SBA) Paycheck Protection Program (PPP). […]
The House is scheduled to vote today on changes to the Payroll Protection Program, not to bring more money into the program, but to create greater flexibility with those proceeds and the time frame for their use. The total funds made available for the PPP was $669 billion. The initial […]
In this weeks Podcast, part of the discussion centered around the potential for fraud in the Payroll Protection loan program. Ken Klein passed along this news article as a followup to that discussion. Law 360 posted this week that a Texas man fraudulently tried to score over $5 million in […]
The SBA recently released their Paycheck Protection Program Loan Forgiveness Application. In many instances, the banking community will put this application online, but if you want to get a head start on understanding what will be required, you can review and download a copy of the forms here. Insider read […]
With PPP applications in and, hopefully, funds in the bank, Insider wanted to start turning to the subject of steps to take to maximize your businesses potential for debt forgiveness. We saw the following information from a community bank and wanted to pass along. Congratulations again on being approved […]
The Paycheck Protection Program was rolled out by Congress and the White House with great fanfare to help save small businesses during the coronavirus pandemic. Many of us have applied for and received PPP loans to protect our employees and businesses during the Covid-19 downturn. The Small Business Administration as […]
Good news as Congress has approved another $310 billion in new funding to add into the cash depleted Payroll Protection loan program. An additional $174 Billion is included in the coronavirus relief bill to fund primarily SBA disaster assistance loans ($60 billion), grants to hospitals ($75 billion) and coronavirus testing […]
