Small businesses in a few dozen New Jersey towns can apply to receive up to $10,000 in federal funding to help pay their rent under the new Small Business Lease-Emergency Assistance Grant Program....
The Senate passed a five-week extension of the Paycheck Protection Program (PPP) yesterday only hours before the application deadline. The extension is intended to provide more time for small businesses to apply for the approximately $129 billion in PPP funding remaining. The measure will have to...
The Coronavirus Aid, Relief, and Economic Security (CARES) Act enabled any taxpayer with required minimum distributions (RMD) due in 2020 from a retirement plan to forgo the RMD this year. This included 401(k), 403(b), and IRA plans. The IRS released Notice 2020-51, which states that...
The Small Business Administration (SBA) has issued a new interim final rule for determining payroll costs and owner compensation in calculating Paycheck Protection Program (PPP) loan forgiveness under the new 24-week covered period....
The Small Business Administration (SBA) has released a three-page “EZ” Paycheck Protection Program loan forgiveness application. The EZ Loan Forgiveness Application is meant to reduce the burden on smaller businesses and borrowers by requiring fewer calculations and less documentation....
Applications for Phase 2 of the NJEDA Small Business Emergency Assistance Grant Program will be made available on Tuesday June 9th at 9 am. Phase 2, which has $45 million available, offers larger grants (up to $10,000) and expanded eligibility to New Jersey’s small businesses,...
The Senate passed the House’s version of the Paycheck Protection Flexibility Act. The bill now goes to President Donald Trump, who is expected to sign it....
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....
