PPP UPDATE – PPP Flexibility Act Reduces Amount Required to be Spent on Payroll; Expands Time Period for Forgiveness and Rehiring Employees; Permits Forgiveness Recipients to Defer Payroll Taxes...more
Executive Summary -
On April 30, the Federal Reserve Board (Fed) announced revisions to the scope and eligibility requirements for the Main Street Lending Program (the MSLP or Program) in response to over 2,200 comment...more
The CARES Act limits eligibility for Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL) to borrowers with 500 or fewer employees or those who would otherwise qualify under the existing definition of a...more
The U.S. Small Business Administration (SBA) is authorized to guarantee up to $349 billion in loans to eligible borrowers through the Paycheck Protection Program (PPP). As detailed below, these loans are then forgiven after...more
4/7/2020
/ Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Relief