Reading Time: 2 minutes By Jeanne Bernick Next month I’ll join my counterparts from around the country in the K·Coe PRO Summit, a virtual conference designed to help businesses manage operations and navigate impacts during the COVID-19 pandemic and economic crisis. Our business advisors are on the front lines of hearing concerns, navigating issues …
Read moreCombat COVID: How to Move Business Forward During Disruption
Reading Time: < 1 minute As the original June 30 deadline passed for small businesses to apply for the Small Business Administration’s (SBA) Paycheck Protection Program (PPP), the Senate and House worked quickly to unanimously pass an extension proposal. This past Saturday, President Trump signed the extension allowing businesses to apply for assistance through August …
Read moreSBA Paycheck Protection Program Application Deadline Extended
Reading Time: 3 minutes For many businesses, it seems as though every time they blink there’s another Paycheck Protection Program (PPP) update to digest. It’s a reality that accompanies the quick development and release of the Small Business Administration’s (SBA) program for economic relief due to COVID-19. The need for updates soon becomes apparent …
Read moreWhat You Need to Know Now and Later: Paycheck Protection Program Flexibility Act
Reading Time: 5 minutes On May 15, the Small Business Administration (SBA) released the long-awaited Paycheck Protection Program (PPP) Forgiveness application and instructions. While there is not yet clear guidance on the details of loan forgiveness (the SBA plans to release regulations and guidance soon to assist borrowers as they complete their loan forgiveness …
Read moreSBA Issues First Guidance for PPP Loan Forgiveness Application
Reading Time: 5 minutes It’s been a winding, foggy road for partnerships and seasonal employers trying to apply the Small Business Administration’s (SBA’s) guidance on Paycheck Protection Program (PPP) to their business structures. In this article, K·Coe advisors provide a summary of the April Interim Final Rule (IFR) updates, the May loan increase IFR …
Read moreSBA Issues New Guidance on PPP Loan Amounts for Partnerships and Seasonal Employers
Reading Time: 2 minutes Update: Safe Harbor date extended to May 18, 2020 for PPP loan repayment. In response to uncertainties surrounding the good faith certification requirement on Paycheck Protection Program (PPP) loans, the Small Business Administration (SBA), in consultation with the Department of the Treasury, has announced a determination of safe harbor for …
Read morePPP Loan Update: SBA Releases ‘Good Faith’ and Safe Harbor Thresholds
Reading Time: 3 minutes Following its release of the Main Street Lending (MSL) program three weeks ago, the Federal Reserve has issued more detail on guidance, answered Frequently Asked Questions (FAQs), and made some adjustments to the original scope of the program. “After listening to the press conference delivered by Fed Chair Powell, and …
Read moreFed Provides Clarity on Main Street Lending Program for Small and Medium-size Businesses
Reading Time: 3 minutes Recently, we learned that Shake Shack, the LA Lakers organization, and many other businesses have returned Paycheck Protection Program (PPP) funds due to concerns over alleged misuse of the program’s loan criteria. In response to these highly publicized events, U.S. Treasury Secretary Steven T. Mnuchin and SBA Administrator Jovita Carranza …
Read morePPP Certification Criteria: 3 Questions for Every Business