NOTE RECENT LEGISLATION HAS MADE CHANGES TO THE PPP PROGRAM! We know that forgiveness for your PPP loan is the hot topic on the minds of our clients, however it’s best to take the time to make sure there is as much information as possible to maximize loan forgiveness. What has changed? • The SBA
PPP Loan Application Deadline Extended to August 2020
With many small businesses still struggling, and $134 Billion still left in the available fund, the House and Senate overwhelmingly voted to extend the popular Paycheck Protection Program application deadline from June 30th to until August 8th. If Congress didn’t extend the program, the money that remained as of would eventually have been returned to
Paycheck Protection Program Flexibility Act Makes Loan Forgiveness Easier
President Trump has signed bipartisan legislation to modify the U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP). The Paycheck Protection Program Flexibility Act of 2020 includes several significant updates affecting both borrowers and lenders participating in the program. Key Changes Availability of Loans • The Flexibility Act extends the deadline to apply for a
New York Forward Loan Fund
New York Forward Loan Fund (NYFLF) is a new economic recovery loan program aimed at supporting New York State small businesses, nonprofits and small residential landlords as they reopen after the COVID-19 outbreak and NYS on PAUSE.
NYFLF targets the state’s small businesses with 20 or fewer full-time equivalent (FTE) employees (90% of all businesses), nonprofits and small residential landlords that have seen sharp reduction in rental income.
Advantages of the Employee Retention Credit Payroll Tax Deferral
PLEASE NOTE CHANGES HAVE BEEN MADE DUE TO SUBSEQUENT LEGISLATION! The Employee Retention Credit, or ERC, is designed to help businesses keep employees on the payroll. It’s not a loan, but it is a refundable tax credit – which means that you can get money even if you don’t owe. The refundable tax credit is
PPP Loan Forgiveness Guide
You Received Your PPP Loan, Now What? Applying for PPP Loan Forgiveness – Applications for loan forgiveness will be processed by your lender. They’ll provide you with instructions on where and how to apply. Your lender is required to respond to you within 60 days. If you are initially not approved or partially approved, you
