Posts tagged Paycheck Protection Program.

President Biden has signed the PPP Extension Act of 2021. The new law extends the Paycheck Protection Program (PPP) application filing deadline from March 31, 2021 to May 31, 2021.  The new law gives qualifying businesses and individuals more time to apply for a PPP loan.

While this new law does not increase the amount of funding available for PPP loans, Congress did authorize $7.25 billion in additional PPP funding under the recent American Rescue Plan Act.

On August 4, the Small Business Administration (“SBA”) released an initial set of frequently asked questions regarding the forgiveness of paycheck protection program (“PPP”) loans (the questions, the “Forgiveness FAQs”). The SBA explicitly provides that both borrowers and lenders may rely on the guidance in the Forgiveness FAQs, in consultation with the applicable law and related regulations.  This resource will likely be a valuable tool to borrowers looking to understand exactly how much of their PPP loans may be forgiven. As with the general PPP frequently asked ...

The Paycheck Protection Program under the CARES Act ended June 30, 2020, and with over $520 billion loaned to nearly 4.9 million self-employed individuals and businesses.  The PPP was hastily passed by Congress and inconsistently-interpreted by government agencies.  Over $125 billion remained available under the PPP, but because of the often complex and uncertain conditions for receiving loans under the program no one was interested in receiving these remaining funds - even where they could have been forgiven.

With the US economy still struggling, Congress has now rushed to pass an ...

Jump to Page
Arrow icon Top

Contact Us

We use cookies to improve your website experience, provide additional security, and remember you when you return to the website. This website does not respond to "Do Not Track" signals. By clicking "Accept," you agree to our use of cookies. To learn more about how we use cookies, please see our Privacy Policy.

Necessary Cookies

Necessary cookies enable core functionality such as security, network management, and accessibility. These cookies may only be disabled by changing your browser settings, but this may affect how the website functions.

Analytical Cookies

Analytical cookies help us improve our website by collecting and reporting information on its usage. We access and process information from these cookies at an aggregate level.