The CAA provided for two types of round three PPP loans. The first type was initial or first-draw loans up to $10 million for entities that had never received a PPP loan. The second type was second-draw loans of up to $2 million for entities that had received PPP loans.4 Followi...
a department considering a PPP must first seek approval for the capital spending that would be required if the project received public funds—as required in the national PPP Guidelines (AU 2017) and described in Irwin’s review of PPP contingent liability management (Irwin and Mokdad 2010, 10-...
Looking for answers about 2021 PPP loans? We've got answers. Check out our comprehensive list of FAQs that cover everything from application to forgiveness.
President Donald Trump has indicated a willingness to release a full list of businesses that have received PPP loans. "I wouldn't mind doing that," Trump said on April 28 in response to a question from ABC's Jon Karl. "I don't know what the legal status of something like that -- I...
We received funds yesterday and set them in a separate account. I see they have currently shut down teh program as of today. I am sure they need to finalize the almost 1 million loans that were approved. Shawn - it is 8 weeks from when the loan paperwork is approved. 75% towards pa...
Though the majority of the funds disbursed through the program have already been forgiven, there are some eligibility requirements for forgiveness. First, to receive full forgiveness, your business must have maintained staffing and compensation levels throughout the covered period.8 ...
If your loan is greater than $50,000, or if you and your affiliates received a total of $2 million or more in PPP funds, you aren’t eligible to apply using this simpler form. Instead, you’ll complete either Form 3508 or 3508EZ.What documents do I need to submit with this easier...
Technically, these are forgivable loans. To qualify, you have to keep an excellent record of how you are spending the loan funds. There are quite a few hoops to jump through but we are going to break it all down. PPP Loan Forgiveness Terms ...
Sign intoBusiness Advantage 360, our small business online banking, using the username and password you used to apply for your PPP loan Select your CARES Act Paycheck Protection Program loan Click the “withdraw or decline loan forgiveness” button at the top right of the application ...
Definition: Adequate funds are available to the contractor during the construction of the PPP project phase 10 Fulfillment of commitments with financial institutesDefinition: This includes debt repayment to the financial institutes in an efficient manner as committed during financial closure 11 Revenue ...