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Part III: The RESTART Act and the Long-term Recovery Sector Loan Program
The National Law Review· 1 hour agoThe first part of the alert discusses the Reviving the Economy Sustainably...of Congress supporting the legislation. The RESTART Act’s primary appeal is that it is a long-term loan& ...
Frequently Asked Questions: Paycheck Protection Program Loan Forgiveness
The National Law Review· 3 hours agoTreasury Department released their much anticipated Loan Forgiveness Application and corresponding instructions (Forgiveness Application) for the Paycheck Protection Program ...
IRS Confirms PPP-Funded Expenses Are Non-Deductible
The National Law Review· 4 hours agoLiterally tens of thousands of businesses received Paycheck Protection Program (PPP) loans under the CARES Act. The legislation was passed very quickly to avert a potential ...
PPP Loan Audits Could Affect Millions of Borrowers | JD Supra
JD Supra· 2 days agoPPP Loans with balances of less than $100,000 to the Treasury Department for collection, and another 10,000 delinquent PPP Loans involving higher balances ...
SBA Provides Safe Harbor For Certifying Need For PPP Loans
The National Law Review· 2 days agoNew SBA guidance says PPP borrowers of under $2 million are granted safe harbor and deemed to have made required good-faith certification of necessity. Individual circumstances ...
Brevard political consultant, Space Coast Rocket owner, arrested for alleged PPP loan fraud
Florida Today via Yahoo Finance· 19 hours agoRobert Burns, a Brevard County political consultant and owner of the Space Coast Rocket local news...
If You File a Schedule C, Take Note: SBA Offers Guidance for Self-Employed PPP Loan Applicants
The National Law Review· 5 days agoThe average PPP loan amount so far has been $239,000, though the vast majority of approved loans (70%) have been for $150,000 or less. Lenders have felt ...
Additional Guidance Issued on PPP Loan Forgiveness, Loan Review Procedures
The National Law Review· 1 day agoThe rule does not provide a time frame within which a business must submit the loan forgiveness application. The rule does clarify that a lender has 60 days following the ...
COVID-19: Understanding the Borrower Certification Requirements under the Paycheck Protection...
The National Law Review· 19 hours agoUnder the CARES Act, an “eligible recipient” was always a broader definition than the “small business concern” that is normally the standard needed to qualify for a loan guaranteed ...
Top 10 Insights from the SBA’s PPP Loan Forgiveness Application
The National Law Review· 5 days agoOn May 15, 2020, the SBA issued its Paycheck Protection Program (PPP) Loan Forgiveness Application (available here). While the term of the “Covered Period ...
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