Funding – COVID-19

If you haven’t applied for a Paycheck Protection Program (PPP) loan yet, we have good news: You haven’t missed the boat. On Saturday, July 4th, President Trump signed legislation that extends the PPP application deadline to August 8th. Here are a few things business...

  This week, the Small Business Administration (SBA) published two new PPP Loan Forgiveness Applications and an Interim Final Rule that gives further clarity to the changes found within the Paycheck Protection Flexibility Act of 2020 that passed on June 5, 2020....

  UPDATE: On Friday, June 5, 2020, the President has officially signed the Paycheck Protection Program Flexibility Act of 2020. June 3, 2020 Late Wednesday night (June 3, 2020), the Senate signed the House Bill, Paycheck Protection Program Flexibility Act of...

Interim Final Rule on Loan Forgiveness June 18, 2020 - Additional updates have been made to this program. Click here for additional information.  May 27, 2020 On Friday, May 22, 2020, the Small Business Administration published an Interim Final Rule (IFR) relating to...

Interim Final Rule: Loan Review Procedures and Related Borrower and Lender Responsibilities May 27, 2020 On Friday, May 22, 2020, the Small Business Administration (SBA) published an Interim Final Rule (IFR) relating to the Paycheck Protection Program (PPP). This rule...

May 18, 2020 June 18, 2020 - Additional updates have been made to this program. Please click here for additional information.  On Friday, May 15, 2020, the Small Business Administration (SBA) published the loan forgiveness application, SBA Form 3508, to be completed...

Interim Final Rule: Loan Increases May 14, 2020 On Wednesday May 13, 2020, the Small Business Administration (SBA) published an Interim Final Rule relating to the Paycheck Protection Program (PPP). This item summarized key loan increase provisions of the PPP and...

Taking Care of Business in Denton County $2.2 million in Grants UPDATE: June 29, 2020 -  Denton County is launching Phase II of the small business grant program. It began June 22, 2020 at noon and runs until July 6, 2020. It will provide $50,000 grants to Denton...

Subsequent to the publishing of this item, the Treasury/SBA released FAQ 47 which further extends the below discussed certification’s safe harbor to May 18, 2020 here. May 13, 2020 On Friday, April 24, 2020, the Small Business Administration (SBA) published an Interim...

Subsequent to the publishing of this item, the Treasury/SBA released FAQs 46 and 47 which clarify the certification standard and further extend the below discussed certification’s safe harbor to May 18, 2020, respectively, here. For further details on the...

On April 30, 2020, the IRS issued Notice 2020-32 addressing the deductibility of expenses paid by the PPP loan.  This notice clarified that no deduction is allowed for an expense (payroll, rent, mortgage interest, utilities) that results in forgiveness of a...

April 29, 2020 Since our last update, the Small Business Administration has published four Interim Final Rules relating to the Paycheck Protection Program (PPP). These items summarized key eligibility components relating to the Paycheck Protection Program and...

April 27, 2020 This week Congress provided further relief for businesses and healthcare institutions through additional funding for the record stimulus deal in response to the COVID-19 pandemic. The Coronavirus Aid, Relief, and Economic Security Act (CARES) provided...

April 27, 2020 The Coronavirus Aid, Relief, and Economic Security Act (CARES) that was signed into law on March 27, 2020 allocated $100 billion in financial relief targeted to hospitals and other healthcare providers. On Friday, April 14, 2020, the Department of...

On Friday, April 10, 2020, the Department of Health and Human Services (HHS) implemented relief targeted to healthcare providers and hospitals. This relief was part of the record stimulus deal that Congress passed in response to the COVID-19 pandemic, The Coronavirus...

NOTICE – As of April 26, 2020, the Centers for Medicare and Medicaid Services (CMS) has announced that it will make changes to this program.  More information can be found here: https://www.cms.gov/files/document/accelerated-and-advanced-payments-fact-sheet.pdf....

June 18, 2020 -  Additional changes have been made to this program. Please click here for additional information.  Interim Final Rule: Business Loan Program Temporary Changes; Paycheck Protection Program On Thursday evening, April 2, 2020, the Small Business...

Other Provisions within Title I of the CARES Act Last week Congress provided relief for Americans, businesses, and healthcare institutions through a record stimulus deal in response to the COVID-19 pandemic, The Coronavirus Aid, Relief, and Economic Security Act...

NOTICE - As of April 2, the Treasury Department has posted a fact sheet for borrowers to consider that will answer some details not known at the time of this article.  For additional information, please visit the Treasury website, click here New Lending Provision...

In response to the Coronavirus and its impact on businesses, the SBA has made new loans available. To highlight the components of the program, please see the information outlined below with additional resource links. Commissioning: H.R. 6074, Public Law No. 116-123.In...