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SBA Releases Interim Final Rules on PPP Loan Forgiveness and Loan Review

Posted 7:15 PM by
Over Memorial Day weekend, the U.S. Small Business Administration (SBA) issued the interim final rule on Paycheck Protection Program (PPP) loan forgiveness. Many of the rules were consistent with our expectations after reviewing the forgiveness application, which was issued one week prior, but the guidance does provide a few of the significant confirmations and several new clarifications:
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On-Demand Transportation Webinar: Untangling the Paycheck Protection Program (PPP) Loan Forgiveness Application

Posted 8:15 PM by
Ever since the initial release of the Paycheck Protection Program (PPP) in early April, borrowers have been frustrated by the lack of detailed guidance about the program’s parameters. Although the Small Business Administration (SBA) has shared minimal updates over the last month, authoritative guidance clarifying critical definitions and providing much-needed direction has not been available. On May 15, the SBA released the PPP loan forgiveness application, an 11-page application that sheds some light – although dim – on several outstanding items.
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On-Demand Webinar: Getting Back to Work: Considerations for Reopening Your Not-for-Profit

Posted 2:30 PM by
As not-for-profit organizations plan their return to work, they face many legal and operational considerations. What factors should be top of mind? How can organizations protect their employees’ health and well-being while effectively reopening for those they serve?
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Standards Update 5/20/20

Posted 12:15 PM by
The Financial Accounting Standards Board (FASB) regularly issues Accounting Standards Updates (ASUs) to make changes to the FASB Codification, the primary source of Accounting Principles Generally Accepted in the United States (GAAP).
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COVID-19 Business Survival Series: “Being Philanthropic When It’s Needed Most”

Posted 7:26 PM by
COVID-19 does not discriminate, and it has impacted all sectors of the nation’s economy. But certain industries are being affected more than others, maybe none more so than not-for-profits. Why does this sector matter – especially now – and what should the business community be doing to help preserve this very important piece of Indiana’s ecosystem?
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Transportation Webinar: Untangling the Paycheck Protection Program (PPP) Loan Forgiveness Application

Posted 5:15 PM by
Ever since the initial release of the Paycheck Protection Program (PPP) in early April, borrowers have been frustrated by the lack of detailed guidance about the program’s parameters. Although the Small Business Administration (SBA) has shared minimal updates over the last month, authoritative guidance clarifying critical definitions and providing much-needed direction has not been available. On May 15, the SBA released the PPP loan forgiveness application, an 11-page application that sheds some light – although dim – on several outstanding items.
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SBA Releases PPP Forgiveness Application; Sheds Dim Light on Looming Questions

Posted 5:00 PM by
The lack of guidance related to Paycheck Protection Program (PPP) loan forgiveness has been the genesis of exacerbated frustration in the tax and business communities over the last several weeks. While the Small Business Administration (SBA) has still not released authoritative guidance clarifying critical definitions and providing much-needed direction, it did release the PPP loan forgiveness application Friday, May 15. This 11-page application sheds some light – although dim – on several outstanding items.
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Webinar: Getting Back to Work: Considerations for Reopening Your Not-for-Profit

Posted 6:00 PM by
As not-for-profit organizations plan their return to work, they face many legal and operational considerations. What factors should be top-of-mind? How can organizations protect their employees’ health and well-being while effectively reopening for those they serve?
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PPP Repayment Deadline Extended Yet Again by SBA

Posted 3:45 PM by
Late yesterday, the Small Business Administration (SBA) extended the Paycheck Protection Program (PPP) loan repayment deadline from May 14 to May 18, 2020. This is the second extension granted by the administration. The original repayment deadline was May 7, 2020. Additional information can be found in the newly added question #47 of the PPP FAQs.
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On-Demand Webinar: Business Interruption Claims and Considerations in the Age of COVID-19

Posted 5:41 PM by
The outbreak of COVID-19 has caused a significant economic impact for businesses across nearly every sector of the economy. The global pandemic has caused major event cancellations, disruptions to supply chains, businesses to go virtual – if not shuttered entirely – and countless numbers of employees to be furloughed, or worse. The economic effects of the virus are severe and will likely be felt for a long time to come.
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