sba

Home|Tag: sba

The SBA PPP is closed (no more funds)

Last night, the SBA PPP portal was closed to the financial institutions. No more applications were able to be submitted today. The question is what will happen to the applications submitted but not yet approved. Note that there are around $8 billions on the side for minority groups and around $6B for applications with error

By |2021-05-05T21:32:57+00:00May 5th, 2021|Categories: Business|Tags: , , , |

Application Opening TODAY for $28.6 Billion Restaurant Revitalization Fund

Established under the American Rescue Plan, and signed into law by President Joe Biden on March 11, 2021, the Restaurant Revitalization Fund provides a total of $28.6 billion in direct relief funds to restaurants and other hard-hit food establishments that have experienced economic distress and significant operational losses due to the COVID-19 pandemic. This program

By |2021-05-04T16:31:46+00:00May 3rd, 2021|Categories: Business|Tags: , , , , |

Restaurant Revitalization Fund (Grant) – Client communication

Last week, the SBA made a press release of the SBA Restaurant Revitalization Fund which will be available to restaurants and similar businesses  - https://www.sba.gov/funding-programs/loans/covid-19-relief-options/restaurant-revitalization-fund As of right now, the sample application is 16 pages long and it requires a high level detail on several areas. From the information available so far, the funds will be provided as a

By |2021-04-23T17:00:49+00:00April 23rd, 2021|Categories: Business|Tags: , , , , , |

Restaurant Revitalization Fund – Press release

Tonight there was a SBA press release about the Restaurant Revitalization Fund program. SBA Administrator Isabella Casillas Guzman on 4/17/2021 announced key details on application requirements, eligibility, and a program guide for the Restaurant Revitalization Fund (RFF). Under this announcement, details on application requirements, eligibility, and a program guide are now available in English at

By |2021-04-19T03:31:22+00:00April 19th, 2021|Categories: Business|Tags: , , , |

Shuttered Venue Operators Grant – SVOG – open April 8, 2021

The Shuttered Venue Operators Grant (SVOG) program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, and amended by the American Rescue Plan Act. The program includes over $16 billion in grants to shuttered venues, to be administered by SBA’s Office of Disaster Assistance. Eligible applicants may qualify for grants

By |2021-04-02T17:44:09+00:00April 2nd, 2021|Categories: Business|Tags: , , , , , |

Restaurant Revitalization Fund to be released in April 2021

The U.S. Small Business Administration (SBA) is targeting early April to launch a phased rollout of the $28.6 billion Restaurant Revitalization Fund (RRF), a senior SBA official testified during a Senate Small Business Committee hearing. The American Rescue Plan Act, P.L. 117-2, created the RRF to provide restaurants with grants equal to their pandemic-related revenue

By |2021-03-28T18:56:57+00:00March 28th, 2021|Categories: Business|Tags: , , , |

SBA Extends Deferment Period for all COVID-19 EIDL and Other Disaster Loans until 2022

The SBA has published the following press release regarding the deferment for all Covid-19 EIDL and other disaster loans. "WASHINGTON –The U.S. Small Business Administration announced extended deferment periods for all disaster loans, including the COVID-19 Economic Injury Disaster Loan (EIDL) program, until 2022. All SBA disaster loans made in calendar year 2020, including COVID-19

By |2021-03-13T21:34:46+00:00March 12th, 2021|Categories: Business|Tags: , , , |

PPP expands its reach – Access non US citizens, prior non-fraud felony convictions, etc.

From tomorrow February 24th, 2021, the PPP will accept applications from business owners that were not accepted in the past, such as non-citizens with ITIN. Please, see below some details extracted from the SBA note: "These simple progressive steps by the Biden-Harris Administration further demonstrate the commitment to racial and gender equity, reaching low and

By |2021-02-23T17:25:37+00:00February 23rd, 2021|Categories: Business|Tags: , , , , |

Status 2nd round PPP – Around 36% approved (SBA Press released 21-15)

Out of the $288 billion for the second round of PPP, around $103 billion (around 36%) have been approved as of earlier this week. The SBA has released some relevant details on how the majority of the loans are for amounts under $100k. Release Date: February 10, 2021     Release Number: 21-15 This week, the

By |2021-02-10T18:31:34+00:00February 10th, 2021|Categories: Business|Tags: , , |

Relevant sources to be informed in tax and accounting matters

Our partners and team members review daily articles, posts, etc. from  different sources (this is not a comprehensive list) and communications from other CPAs, EAs, accountants, and tax professionals. We have noted a faster pace of changes in the tax and accounting professional industry, with many examples in the recent years. Example 1 - Tax

By |2021-01-22T17:27:52+00:00January 23rd, 2021|Categories: Financial Education|Tags: , , , , , , |
Go to Top