The Treasury and U.S. Small Business Administration (SBA) issued two documents providing additional guidance on the Paycheck Protection Program (PPP) late Friday evening. One addresses the conditions for loan forgiveness and the other outlines loan review procedures and borrower and lender responsibilities....
The U.S. Small Business Administration (SBA) released new guidance for Paycheck Protection Program (PPP) loan forgiveness. The instructions and application form is meant to help borrowers apply for forgiveness of their PPP loans in accordance with the Coronavirus Aid, Relief, and Economic Security (CARES) Act....
Borrowers applying for a Paycheck Protection Program (PPP) loan must certify in good faith that current economic uncertainty makes the loan necessary to continue business operations....
The new law provides employees forced to take time off to care for a family member during the COVID-19 outbreak with up to 12 weeks of unpaid family leave in a 24-month period without losing their jobs....
A few weeks ago, the SBA announced that borrowers should be prepared to demonstrate the basis for good faith certification in requesting a loan from the Paycheck Protection Program (PPP)....
Some good news for businesses receiving PPP loans. If an employer offers to rehire an employee and the offer is declined, it will not have a negative effect on the Full Time Equivalent (FTE) reduction calculation for PPP loan forgiveness. The employer must provide a written...
Under the Families First Coronavirus Response Act (FFCRA), most businesses with fewer than 500 employees must provide up to 80 hours of paid-sick-leave benefits if employees need leave to comply with a self-quarantine order or care for their own or someone else’s coronavirus-related issues....
The U.S. Small Business Administration (SBA) issued more regulations for the Paycheck Protection Program (PPP). The new regulations relate specifically to loan disbursement and corporate group eligibility....
