SBA Issues New Interim Final Rule Saturday, May 9, 2020 COVID-19 Response Team SBA newest Interim Final Rule impacts lender deadlines, but also promises further borrower guidance before May 14th. SBA issued its newest Interim Final Rule (IFR), effective May 8th, addresses the certification safe harbor. This IFR restates the certification of necessity required to …
Thursday, May 7, 2020 COVID-19 Response Team Added May 5, 202044. Question: How do SBA’s affiliation rules at 13 C.F.R. 121.301(f) apply with regard to counting the employees of foreign and U.S. affiliates? Answer: For purposes of the PPP’s 500 or fewer employee size standard, an applicant must count all of its employees and the …
SBA’s Newest FAQ Wednesday, May 6, 2020 COVID-19 Response Team SBA’s newest FAQ (May 5, 2020) extends the date for borrowers to review the required certification and make repayment. This is an important decision. Be sure to contact your engagement team or a member of the COVID-19 Response Team. 43. Question: FAQ #31 reminded borrowers to …
Tuesday, May 5, 2020 COVID-19 Response Team Our forgiveness calculator is updated to reflect recent SBA and IRS announcements, as well as your feedback. The summary page now shows the tax impact of having the forgiven expenses be non-deductible. While comments have been made by congressional members that this was not the intent of Congress, …
UPDATED: PPP Estimated Loan Forgiveness Calculator Read More »
Thursday, April 30, 2020 By Dave Gaino, CPA | COVID-19 Response Team Recent headline news and updated FAQ’s from the SBA have brought the definition of the following statement into serious debate: “Current economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.” This was the statement that borrowers under …
Recent SBA FAQ’s Raise Questions About PPP Loan Fund Eligibility Read More »
The Latest Update from the SBA Friday, April 24, 2020 Dear Clients, Please review the announcement below published tonight by SBA for the Paycheck Protection Program. Contact your engagement team if you have not yet started your application AGP’s COVID-19 Response Team Joint Statement by SBA Administrator Jovita Carranza and Treasury Secretary Steven T. …
UPDATE: SBA to Resume PPP Loan Applications Monday Read More »
Thursday, April 23, 2020 Brewster’s Trillions: Earlier this evening and after much negotiation, Congress passed the Paycheck Protection Program and Health Care Enhancement Act, which the President is expected to sign later tonight. This bill is much simpler than previous COVID -19 legislation. It provides additional funding for the quickly depleted Paycheck Protection Program (PPP) …
FAQs – Allowable Uses and Forgivable Expenses April 22, 2020 Our COVID-19 Response Team developed the FAQ list below for the Paycheck Protection Program’s (PPP) allowable uses and forgivable expenses, including a grid. DOWNLOAD: FAQs – Allowable Uses and Forgivable Expenses DOWNLOAD: Comparison Chart – Allowable Uses and Forgivable Expenses As always, our COVID-19 Response Team …
NEW: AGP’s Crisis Cash Management Tool Wednesday, April 15, 2020 To those affected by COVID-19, The events that have unfolded over the last month continue to resonate and impact us in many ways. Our daily lives have been turned upside down, and normalcy, and daily routines have been redefined. However, what we have seen is …
Are You Managing Cash Strategically through COVID-19? Let’s Find Out. Read More »
Recent COVID-19 Legislation – Guidance on the $600 Federal Weekly Benefit and Other Unemployment Benefits Monday, April 13, 2020 COVID-19 Response Team The Act expands eligibility for unemployment benefits by: Expanding the types of workers eligible for unemployment benefits( PUA); including sole proprietors, independent contractors, the self-employed, individuals with limited work histories individuals who have …
Guidance on the $600 Federal Weekly Benefit and Other Unemployment Benefits Read More »
