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PPP forgiveness streamlined – Direct forgiveness option and Covid Revenue reduction score for 2nd round

The U.S. Small Business Administration (SBA) published new guidance in mid July 2021 designed to simplify and speed up the forgiveness process for businesses and not-for-profits with Paycheck Protection Program (PPP) loans of $150,000 or less. The $150k forgiveness application is just a one page attestation with no payroll (or other) support required. The SBA

By |2021-08-13T19:16:46+00:00August 13th, 2021|Categories: Business|Tags: , , , , , , , , |

2nd round of PPP – Calculation 25% reduction of revenue

The SBA and the Treasury have release guidance (18 page document) on how the 2nd round of PPP should be calculated for the 25% reduction of revenue 2020 Q vs 2019 Q. For the majority of the business, the main impact was experienced on the second quarter of 2020 due to the lockdowns and restrictions

By |2021-01-22T21:53:45+00:00January 19th, 2021|Categories: Business|Tags: , , , , , , |
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