Funding – COVID-19

First Deadline for HHS PRF Funds – September 30, 2021

First Deadline for HHS PRF Funds – September 30, 2021

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES) was passed and signed into law. This bill included $100 billion in funding to a Provider Relief Fund (PRF) for aid during the COVID-19 pandemic. The fund is managed by the Office of the...

Insights on the Paycheck Protection Program and Loan Forgiveness Tips

Insights on the Paycheck Protection Program and Loan Forgiveness Tips

The Paycheck Protection Program offered small businesses a rare opportunity: access to SBA-backed loans that can be fully forgiven—if you meet certain criteria. Now that lenders are opening up for forgiveness applications, it’s time to start collecting the documents...

American Rescue Plan Act of 2021 Signed Into Law by President Biden

American Rescue Plan Act of 2021 Signed Into Law by President Biden

The American Rescue Plan Act of 2021 is the latest $1.9 trillion coronavirus relief package President Biden signed into law on Wednesday, March 11, 2021 that is designed to continue to facilitate recovery from the economic and health effects of the ongoing pandemic....

CARES Act Provider Relief Fund Reporting Update

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 (CARES). Providers and facilities were granted financial relief...

HHS Releases Reporting Requirements for Provider Relief Fund (PRF)

At long last, the Department of Health and Human Resources published the reporting requirements for recipients of the Provider Relief Fund (PRF). This release offers healthcare providers much-needed guidance on what kinds of documentation they need in the event of a...

Integral Updates to the Paycheck Protection Program Loan Forgiveness

  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....

SBA Issues Additional Loan Forgiveness Guidance – May 22, 2020

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...

SBA Issues Loan Forgiveness Procedures for Lenders

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...

SBA Issues Loan Forgiveness Application

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...

Loan Increases Allowed for Certain PPP Loans

Loan Increases Allowed for Certain PPP Loans

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...

FAQ 46 Certification Rule Clarity

FAQ 46 Certification Rule Clarity

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...

FAQ 45 Considerations

FAQ 45 Considerations

New FAQ Allows Retention Credits if PPP Funds Turned back in by May 14 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 7, 2020 The Treasury...

New Deadline of May 14/Borrower Certification of PPP Need: An Update

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...