Monthly Archives: April 2020

SBA Debt Relief Program, Final Guidance Date on SBA PPP Forgiveness and Clarification on Qualified Cost Forgiveness for PPP

The SBA announced that they will pay the monthly principal and interest payments for all existing SBA back loans 7(a), 504 and micro loans other than PPP and EIDL automatically for six months. Borrowers do not need to apply for this assistance. For those clients that have SBA backed loans, you should contact your bank […]

Forbes Article Highlights Financial Institutions PPP Loan Programs

Anyone who is having trouble getting a PPP loan because their bank is not participating or has stopped taking applications, a recent Forbes article highlights national and regional financial institutions PPP loan application status including institutions still accepting applications. If you have any questions, please do not hesitate to contact your Core accountant or […]

How Much of My PPP Loan Will Be Forgiven?

How much of my PPP loan will be forgiven? The eight (8) week period to determine loan forgiveness begins on the day that the loan is funded. The maximum amount of a PPP loan that is eligible for forgiveness is equal to the amount the employer spends on qualifying expenses during the eight-week period which […]

The Good, The Bad and The Ugly on PPP Loan Program

The Good This week, our clients applied for over $10.8 million in PPP loan applications which will continue to rise next week as more banks start taking applications. We are seeing small banks process and approve loans faster than big banks. This is due to most small banks not using an online application process and […]

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