Payroll Protection Program

Back in March, it seemed as if we were never going to get to this point. Our worlds were filled with a pandemic, quarantines, layoffs, executive orders, school closings, stimulus checks, increased unemployment benefits, and cancellations. But most of all it was filled with questions....

Early recipients of the Paycheck Protection Program (PPP) are now at the half way point of the 8 week use of funds period.   The SBA has just released its first version of the Paycheck Protection Program Loan Forgiveness Application.  The application includes some needed clarifications,...

How will SBA review borrowers’ required good-faith certification concerning the necessity of their loan request? Answer: When submitting a PPP application, all borrowers must certify in good faith that “[c]urrent economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.” SBA, in consultation...