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Important PPP Clarifications on Owner-Employee Compensation Rules and Rent Forgiveness

With many PPP borrowers now working their way through the intricacies of the forgiveness calculations and related analysis, the SBA and Treasury Department announced on August 24, 2020 new clarifications on certain aspects of...more

Moving Forward to the “New Normal”: PPP Update – Focus on Forgiveness

With the time period for processing a Paycheck Protection Program (PPP) loan with the SBA ending on June 30, borrowers are now focused on the process of applying for loan forgiveness. On June 25, we were joined by SBA Deputy...more

Revised PPP Loan Forgiveness Applications – Two for the Price of One

On June 16, 2020, the SBA released a revised form of Loan Forgiveness Application, which incorporates the changes provided in the PPP Flexibility Act that we previously discussed, as well as a new “EZ” form intended to...more

New PPP Interim Final Rules Clarify Forgiveness Calculation and Loan Review Process

On May 22, 2020, the Treasury Department and SBA issued two new Interim Final Rules applicable to the Paycheck Protection Program (PPP), one primarily focused on details related to the forgiveness calculation and one...more

UPDATE: A Few More Steps (and a New Calculator!) for Forgiveness – SBA Releases PPP Forgiveness Application

On May 15, the SBA released its standard application that borrowers must complete to receive partial or full forgiveness for loans issued pursuant to the Paycheck Protection Program (PPP). Consequently, we have substantially...more

3 Steps (and a Calculator) to Help Determine Forgiveness for our PPP Loan

The Paycheck Protection Program (“PPP”) authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. The loan amounts will be forgiven in its entirety as long as:...more

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