Senate passes extension of application deadline for PPP small-business loans
On Tuesday, the Senate passed legislation that extends the deadline for businesses to apply for coronavirus aid under the Paycheck Protection Program (PPP), that was set to expire at the end of June. The bill, which passed by unanimous consent, moves the deadline for applying for PPP loans (which go to businesses with fewer than […]
More Changes to the Paycheck Protection Program
The Paycheck Protection Program Flexibility Act (PPPFA) signed by President Trump The PPPFA is a huge win for small businesses as it will ease many of the burdens placed on businesses that received PPP loans. Regardless of your political affiliation the bipartisan approval of the adjusted PPP loan forgiveness process gives us all hope that […]
PPP will likely receive some needed tweaks
The much needed Payroll Protection Program (PPP) will likely be receiving much needed adjustments after a 417-1 vote in the House to do so yesterday. The legislation is expect to pass through the Senate in similar fashion. The main tweak to the loan program is to allow small businesses 24 weeks instead of 8 weeks […]
Potential changes and extensions to the PPP
On Friday afternoon, Senators Marco Rubio (R-FL), Ben Cardin (D-MD), Susan Collins (R-ME) and Jeanne Shaheen (D-NH) agreed on legislation that would make changes to the PPP. Their bill would: Extend the deadline to apply for a PPP loan from June 30, 2020, to December 31, 2020; Allow borrowers 16 weeks to use their loan […]
HOLD ON SMALL BUSINESSES. The Cavalry is on the way!
Today (Thursday April 9th) Federal Reserve Chairman Jerome Powell shared that the government has set up new loan programs and reinforced existing ones by approving $2.3 trillion in funding and lending support for businesses and the economy. Basically, the U.S. Treasury Department is providing much needed support by using the central bank’s powers to fight […]
Summary of the SMALL BUSINESS PAYCHECK PROTECTION PROGRAM
We have been getting a lot of questions about the payroll programs the Government is setting up. The Treasury Dept. made this quick one page summary to break down some of the questions and answers that employers have been seeking. The Paycheck Protection Program provides small businesses with funds to pay up to 8 weeks of […]
