Originally enacted on March 27, the Paycheck Protection Program (PPP) offers loan support and (potentially) loan forgiveness to qualifying small businesses – generally defined as those with not more than 500 employees....more
On June 11, the Small Business Administration (SBA) and the Treasury Department published important guidance that the revised 60% condition under the Paycheck Protection Program Flexibility Act will be applied...more
On June 4, attorneys Greg Fryer and Ben Ford represented Verrill's COVID-19 Response Team and virtually presented with the Portland Regional Chamber of Commerce on the Paycheck Protection Program (PPP) loan forgiveness...more
The Small Business Administration reports that as of May 23 it still had nearly $150 billion of untapped Paycheck Protection Program funds. The Program has been underutilized by self-employed business owners, in part due to...more
The Punch Line: On Friday, May 15, the Small Business Administration published a new form entitled Loan Forgiveness Application Instructions for Borrowers which, at long last, provides a great deal of guidance on how to...more
NOTE: You may have seen Verrill’s earlier introduction to the complexities of Paycheck Protection Program math. The article below provides an even deeper look into the loan forgiveness portion of that math.
Thousands of...more
Thousands of articles are circulating about the new Paycheck Protection Program under the CARES Act signed into law on March 27. Having a general idea about how this Program works is good. But if you have questions about the...more