Funding – COVID-19

SBA releases two PPP reopening guidance packages. The first for new borrowers and the second for the second-draw program.

SBA releases two PPP reopening guidance packages. The first for new borrowers and the second for the second draw program.

After negotiations go to the 11th hour, Congress passes tax fix for PPP, changes to loan forgiveness and establishes second-draw program.

Last minute negotiations pave way for Congress to pass second major COVID-19 stimulus package with tax law changes and tax extenders.

Many small businesses and companies have been widely affected by the Coronavirus and the financial destruction that ithas caused. Congress created the Paycheck Protection Program as part of the Coronavirus Aid, Relief and Economic Security (CARES) Act to help ease...

The Department of Health and Human Services (HHS) recently announced that they added $20 billion to the Provider Relief Fund (PRF) as part of phase 3 efforts to support healthcare organizations during this very trying year. Those who have previously applied for...

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...

SBA procedural guidance provides answers on how to navigate PPP loan changes in ownership; deals can now move forward with certainty.

Discussion of the accounting considerations for a borrower that has received a loan under the Paycheck Protection Program.

On August 7, 2020, the U.S. Department of Health and Human Services (HHS) announced it would make an additional distribution from the Provider Relief Fund to nursing homes. The funds, totaling approximately $5 billion, will be used to protect residents of nursing...

PPP lender forgiveness portal is open. Additional guidance issued on loan forgiveness and EIDL amounts as well loan review appeal process.

When the Provider Relief Fund was established as part of the CARES Act, dentists were mentioned for future relief. Finally, on July 10, the U.S. Department of Health and Human Services (HHS) announced it had expanded the Medicaid program to include dentists. However,...

When the Coronavirus, Aid, Relief and Economic Security Act (CARES Act) was signed into law in late March, it included relief funds for our country’s heroes in the crisis: health care providers. These funds, known collectively as the Provider Relief Fund, were...

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...