PPP Loan Forgiveness
You have spent all of your PPP loan monies and now you want to apply for forgiveness to complete the process. You may want to consider delaying the submission of your forgiveness application for a few reasons: We are expecting additional legislation related to the forgiveness of the PPP loans in the next congressional bill […]
SBA Releases New PPP Applications
Earlier this week the SBA released a few items of guidance regarding the recently enacted Flexibility Act and new forgiveness applications. As a reminder, the Flexibility Act extended the PPP forgiveness period from 8-weeks to 24-weeks. Borrowers still have the option of using an 8-week forgiveness period. It also reduced the amount required to be spent on […]
Paycheck Protection Program Reform Bill Coming
The U.S. Senate passed the House version of the Paycheck Protection Program (PPP) and the President is expected to sign it. The updated legislation, passed Wednesday night, will triple the time allotted for small businesses and other PPP loan recipients to spend the funds and still qualify for forgiveness of the loans. Following is a […]
PPP Forgiveness Guidance Issued as Congress Mulls Changes
A couple new interim final rules were issued late Friday giving additional details on forgiveness. The rules didn’t make needed changes to either the eight-week period during which PPP funds must be spent to qualify for forgiveness or the rule requiring PPP borrowers to spend at least 75% of the funds on payroll costs to […]
Maximizing PPP loan forgiveness
As a recipient of a Paycheck Protection Program loan, we want to remind you of program rules— especially in relation to maximizing loan forgiveness. Regulations and guidance from the government have evolved and we will continue to keep you updated on changes moving forward. General rules Borrowers are eligible for loan forgiveness equal to the […]
Important EIDL Advance Program Update
As we continue to monitor updates to the recent legislation in Washington, we learn just how quickly things can change. This morning we learned that the U.S. Small Business Administration’s Massachusetts District Office announced that, nationwide, the SBA has decided to implement a $1000 cap per employee on the EIDL Advance, up to a maximum […]
Business Survival Guide for COVID-19 Outbreak
We are facing uncertain times… COVID-19 is forcing all businesses to adjust in a multitude of ways. Many business owners are rightfully concerned what this means for their companies as they navigate this unprecedented period. Our mission is to help you thrive. Consider the provisions listed below to protect your business, employees, and financial future. […]
CARES Act and Other Stimulus for Individuals
We are facing uncertain times… COVID-19 is forcing all businesses and individuals to adjust in a multitude of ways. We all are rightfully concerned what this means as we navigate this unprecedented period. Our mission is to help you thrive. Details are changing rapidly, but below is the latest on what we know. Please share […]
COVID-19 Program Updates
We hope that everyone is staying safe and healthy through this difficult and challenging time. We continue to service everyone either from our homes or, for a few of us, our offices. The COVID-19 health crisis is now in its third week and Paycheck Protection Program (PPP) applications are moving at a hectic pace. We are […]
Are You Applying for the Paycheck Protection Program (PPP)?
The Paycheck Protection Program (PPP) application process will roll out in two phases, one week apart. As a reminder: On April 3, 2020, small businesses and sole proprietorships can begin applying for these loans through their SBA lender. NOTE: At 12:01 AM, on April 3, the SBA website will go live to accept PPP applications. It is vital to submit your […]