By: Scott Borsack Late in the afternoon on March 30, 2021, after an overwhelming vote of approval by the United States Senate, President Biden signed the Paycheck Protection Program Extension Act which grants applicants an additional 60 days to May 31, 2021 to apply for a second round Paycheck Protection Program loan. This legislation… Continue Reading PPP Round 2 Application Deadline Extended

By: Scott Borsack The second round of the Paycheck Protection Program, as created by Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act is due to close on March 31, 2021, which is next week. The United States House of Representatives last week passed a bill which would extend the application period to… Continue Reading PPP Update: Possible Round 2 Extension

By: Scott Borsack Almost on cue, the SBA released an announcement over the weekend indicating that those loans that have completed the forgiveness process where the Lender recovered the amount of an EIDL grant will be subject to further processing. The SBA is supposed to “automatically remit a reconciliation payment to the PPP lender… Continue Reading SBA Provides Lender Guidance On Refund of EIDL Grants

By: Scott Borsack As the COVID relief measure makes its way through Congress (the House passed the legislation at 9:20 PM on Monday) heading to certain passage in the Senate and signature by the President, we are finding plenty to cheer about in the Paycheck Protection Program provisions of the more than 5,500 pages… Continue Reading Eligible PPP Non-Payroll Expenses Expanded

By: Scott Borsack On December 20, 2020, leaders in the House and Senate announced that a deal had been reached on additional COVID-19 relief to individuals and businesses. We are breaking down the major changes and what they mean for your business. IRS Policy Reversed – PPP Borrowers May Claim PPP Eligible Expenses as… Continue Reading More PPP Relief Coming from Washington