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PPP Loans

April 22, 2020

PPP Loans have started to be disbursed to those who were fortunate enough to get their applications processed before the system ran out of funding.

There are still unanswered questions re: how to qualify for forgiveness on these loans - the AICPA has published an FAQ page to assist:

https://www.aicpa.org/interestareas/privatecompaniespracticesection/qualityservicesdelivery/sba-paycheck-protection-program-resources-for-cpas/sba-payroll-protection-program-faqs.html

For those that missed the boat - there is supposed to be a new ship on the way - the powers to be are hashing it out in DC (or virtually) as we speak.  With any luck there will be additional funding that is geared to the much smaller  businesses that need it.  Let's just hope that there aren't too many strings attached via pet projects that will be thrown into the bill (yes I"m bit disgruntled on that front).  Please reach out to your bank if you haven't already and start the process if possible so you are in line.

As always - we are here to assist in any way we can.