PPP For Small Business and Sole Proprietors

SBA offers several different relief options to help businesses, nonprofits, and faith-based organizations recover from the impacts of COVID-19. In order to reach the smallest businesses, SBA will offer Paycheck Protection Program loans to businesses with fewer than...

You Might Qualify For Additional PPP1 Funds

According to the Top-line Overview of First Draw PPP loans available at: https://www.sba.gov/document/support-top-line-overview-first-draw-ppp PAYCHECK PROTECTION PROGRAM FIRST DRAW LOANS SBA is reopening the Paycheck Protection Program (PPP) for First Draw Loans the...

No Update By HHS On The PRF Self-Reporting Requirement

We checked the Provider Relief Fund (PRF) Reporting Portal Frequently Asked Questions (FAQs) available at: https://hrsac19.my.salesforce.com/sfc/p/#t00000004XgP/a/t0000001FId8/wN.4dTa.NRiNhwh_0CBblH6gvvedhqOt7_.5OS7rP6U We found no update on when you need to comply...

How To Spend Your PPP2 Money

Our clients are starting to receive their PPP2 loan proceeds.  We just want to remind you how to spend that stimulus money so the full amount will be forgiven. According to an article in the Journal of Accountancy available at:...

Additional EIDL Advance Funds May Be Available

The SBA recently posted information about a new Targeted EIDL Advance at: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/covid-19-economic-injury-disaster-loans as follows: COVID-19 Targeted EIDL Advance was signed into law on December 27, 2020,...

PPP Round 2 Applications Now Being Accepted

Lenders are now accepting applications for the Second Draw PPP loans. Keep in mind that the recent enacted Stimulus Package included a provision that the PPP2 Loan can be both fully forgiven and also not taxable to the business owner. To be eligible for PPP Round 2,...