New PPP Guidance Issued: Revisions to Loan Amount Calculations and Eligibility

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 […]

New SBA PPP Guidance Prioritizes Businesses and Nonprofits with Fewer Than 20 Employees

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).  […]

PPP and Shuttered Venue Operators (SVO) grants

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, […]