Posts Tagged ‘PPP’
EIDL Advances No Longer Reduce PPP Loan Forgiveness
On January 8, 2021, the U.S. Small Business Administration (SBA) issued a Procedural Notice (the Notice) – Repeal of Economic Injury Disaster Loan (EIDL) Advance Deduction Requirement for SBA Loan Forgiveness Remittances to Paycheck Protection Program (PPP) Lenders. The Notice Section 1110(e)(6) of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) required the SBA to deduct the…
Read MoreSecond Draw PPP Loan Application Released by SBA
On January 8, 2021, the U.S. Small Business Administration (SBA) released the Second Draw Borrower Application Form, SBA Form 2483-SD, for borrowers seeking a Second Draw PPP Loan. IMPORTANT NOTE: Borrowers who previously returned some or all of their First Draw PPP Loan funds or did not accept the full amount will also need to submit a Borrower…
Read MoreFirst Draw PPP Loan Application Eligibility and Requirements
On January 8, 2021, the U.S. Small Business Administration (SBA) released the Borrower Application Form, SBA Form 2483, for businesses applying for a First Draw PPP Loan or requesting an increase in their First Draw PPP Loan. Existing borrowers seeking a Second Draw PPP Loan will need to submit the Second Draw Borrower Application Form, SBA Form…
Read MoreWebinar: Unpacking PPP Updates from the Latest Stimulus Bill
The Consolidated Appropriations Act, 2021 (the Act) was passed by Congress on December 21 and includes some significant changes to the Paycheck Protection Program (PPP). The Act not only provides for a second draw for certain borrowers, but it includes a flurry of changes to existing PPP loans, highlighted by modifications to the tax implications,…
Read MorePodcast: PPP 2.0 Everything You Need To Know with Justin Elanjian
What’s changing with PPP? Take 20 minutes and listen to Cloud Accounting’s Podcast. This bonus Episode 206 is an overview of the top 10 things accountants need to know about PPP 2.0. Featuring Aprio’s PPP expert Justin Elanjian, CPA, who has done over 100 PPP webinars this year!
Read MoreThe Top 10 PPP changes in the pending Bipartisan Emergency COVID Relief Act of 2020
This week, details on the Emergency Coronavirus Relief Act were released and the proposed legislation includes significant updates to the Paycheck Protection Program (PPP). If approved, the bipartisan bill will make $267.5 billion additional funds available for PPP loans and $13.5 billion for Economic Injury Disaster Loans also overseen by the Small Business Association. Congress…
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