The SBA has published new Individual Funding Request (IFR) and new PPP application forms (SBA Forms 2483-C and 24830SD-C). The SBA has revised its procedures for PPP loan applications that require applicants to file a Schedule C. These changes impact the definition of “payroll costs” and loan amounts/eligibility, allowing for an alternative method to calculate the maximum PPP loan amount by using gross […]
On Feb. 22, 2021, the Biden Administration and the U.S. Small Business Administration (SBA) issued new program guidelines for the Paycheck Protection Program (PPP). The SBA will be implementing a 14-day exclusive PPP loan application period for businesses and nonprofits with fewer than 20 employees. This 14-day period begins Wednesday, Feb. 24 at 9:00 a.m. (ET) and ends on March 9th at midnight (ET). […]
The U.S. Small Business Administration (SBA) has provided additional guidance related to Paycheck Protection Program (PPP) loans and Shuttered Venue Operators (SVO) grants. If you are considering this grant, please note that you will be ineligible if you have or will receive a PPP loan on or after December 27, 2020. Depending on your situation, […]
It has been brought to our attention that private companies are soliciting our customers and offering Paycheck Protection Program loan forgiveness services. CRF neither endorses nor recommends these third-party services, as they are not affiliated with CRF in any way. Please exercise caution when engaging any third-party PPP service provider.
When PPP was announced in April 2020, many businesses – particularly those owned by women and people of color – found themselves shut out of the process due to a lack of information and access to the program through traditional financial institutions. CRF and its partners provided first-round PPP loans to 2,429 businesses totaling $519 […]