PPP Loan Info PPP Loan InfoJanuary 11, 2021 at 9:42 AM by Jennifer Pauly SBA and Treasury Announce PPP Re-Opening; Issue New Guidance WASHINGTON –The U.S. Small Business Administration (SBA), in consultation with the U.S. Treasury Department, announced today that the Paycheck Protection ...
and other debt obligations can all be paid with the help of the loan. To qualify for loan forgiveness, businesses need to use at least 60% of the loan on payroll expenses. Funds must be used within 24 weeks of the loan origination date, and any unused funds must be repaid. ...
PPP Loan Forgiveness, Why Might Patience Be A Virtue? The information age has been rapidly transforming the way that we consume information. Published articles, social media, network news, and online news sources hit us from various sources. Our cellphones, our computers, our smart watches, all...
A:If a business cannot spend the PPP loan on eligible expenses during the 24-week covered period, the loan is not eligible for forgiveness. If only part of the expenses fall within the 24-week period you can still apply for partial forgiveness. Q:What options do I have for PPP loan for...
What the PPP loan allows the OPA to do is continue on its budgeted path without having to revise its assessments or fees. That’s the difference between the OPA and the small businesses for which this plan was supposed to have been created. The OPA does have the option, however unpleasant...
In EIDL news,this press releasefrom the Massachusetts SBA came out today and noted, among other FAQs: “EIDL Loan advances will start to be distributed this week. $1000 per employee up to $10,000 max”. April 5, 2020 Updates: Chase emailed me today letting me know thatsoon I would be...
Things to Know about Wire Fraud Today: It’s a Big Deal Money Laundering and Federal Sentencing Guidelines Top 10 Defense Mistakes in Federal Conspiracy Cases and How to Avoid Them. Example of Recent Texas PPP Fraud Case Out of Houston comes a good example of how these PPP Loan Fraud ca...
time PPP loan. Like other PPP loans, the interest rate for all second-draw PPP loans is set at 1%, and no personal guarantee or collateral is required. The “covered period” for the loan is between 8 and 24 weeks, and the period generally begins the day the loan funds are disbursed....
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basis have the option of using the “Alternative Payroll Covered Period”, beginning on the first day of the payroll period that begins after PPP funding is received (instead of the date when PPP funds are received), which may allow for more payroll expens...