Small Businesses get a second shot at PPP Loan.

https://www.nytimes.com/2020/12/21/business/stimulus-paycheck-protection-program.html?fbclid=IwAR02iBb9con9lNaREgqqXLFrjLLBpyDP9SsiKsy9LJ_zem6MebscRRG9dfg This article outlines the rules for the second PPP Loan. The new relief bill offers a second cash infusion for those who meet stricter terms: Borrowers with fewer than 300 employees that had a 25% drop in sales from a year earlier in at least one quarter could qualify for an additional loan of […]

Read More

PPP Loan Update

Whether expenses paid with PPP funds are deductible or not is an issue that is still undecided. https://www.journalofaccountancy.com/news/2020/dec/expenses-used-for-ppp-loan-forgiveness-deductible-or-not.html?fbclid=IwAR0ER6d43YfrbvhtSvwYr-n8CxvQvGZ25A-T7N5xqSBoIHG_Zh9BKpx5QS0  

Read More

New FAQs address PPP loan forgiveness issues

The U.S. Small Business Administration (SBA), in consultation with Treasury, released guidance Tuesday answering 23 frequently asked questions regarding the forgiveness of Paycheck Protection Program loans.

Read More

Corona Virus Update: Federal Disaster Loan Program

The Small Business Administration is reopening its Economic Injury Disaster Loan and EIDL advance grant portal to a broader array of eligible small businesses and nonprofits affected by the coronavirus pandemic, beginning Monday. The portal had been accepting applications only from agricultural businesses for the last month, as demand was high, and those businesses had not […]

Read More