How to use this article: You already know that the Paycheck Protection Program (PPP) is highly complex, with intertwining conditions, exceptions, and definitions that defy simple explanation. This article assumes that you are...more
Originally enacted on March 27, the Paycheck Protection Program (PPP) offers loan support and (potentially) loan forgiveness to qualifying small businesses – generally defined as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
In response to prior posts on Paycheck Protection Program math, I did receive several messages suggesting that 30 hours – and not 40 as I had stated – was the proper basis for computing FTEs...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
The SBA has published an interim final rule that describes the Paycheck Protection Program. This includes a useful explanation of various elements of the Program...more