Month: May 2020

Paycheck Protection Program

More PPP Forgiveness and Loan Review Procedures Released: Top Takeaways

by
Reading Time: 3 minutes
The latest Interim Final Rule (IFR) on Paycheck Protection Program (PPP) Loan Forgiveness issued by the Small Business Administration (SBA) was released just before the holiday weekend.  Here, K·Coe advisors break down the high-level takeaways from the PPP forgiveness that offer some important clarifications for borrowers and lenders. Clarifications and …

Read moreMore PPP Forgiveness and Loan Review Procedures Released: Top Takeaways

Highlights of CFAP Relief for Farmers and Ranchers

Highlights of CFAP Relief for Farmers and Ranchers

by
Reading Time: 5 minutes
Update 5/21: CFAP Relief Update & Good News for Exporters: The Form CCC-942 that was released this week to certify 75% of Adjusted Gross Income (AGI) is from farming, indicates an IC-DISC dividend derived from farming or ranching activities is considered farm income. This is a change K·Coe has been …

Read moreHighlights of CFAP Relief for Farmers and Ranchers

PPP Certification Criteria: 3 Questions for Every Business

SBA Issues First Guidance for PPP Loan Forgiveness Application

by
Reading Time: 5 minutes
On May 15, the Small Business Administration (SBA) released the long-awaited Paycheck Protection Program (PPP) Loan 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 …

Read moreSBA Issues First Guidance for PPP Loan Forgiveness Application

SBA Issues New Guidance on PPP Loan Amounts for Partnerships and Seasonal Employers

SBA Issues New Guidance on PPP Loan Amounts for Partnerships and Seasonal Employers

by
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

Employee Retention Tax Credits: Are Banks Eligible?

Employee Retention Tax Credits: Are Banks Eligible?

by
Reading Time: 2 minutes
As we previously reported, we believe banks could be eligible for the Employee Retention Tax Credits (ERTC); although it may not be as easy as we originally thought. Most, if not all, states have deemed banking to be ‘essential services’ during the COVID-19 crisis.  Though many banks have elected to …

Read moreEmployee Retention Tax Credits: Are Banks Eligible?

CARES Act: Unemployment Assistance Program Benefits Overview

How COVID-19 is Impacting Banking Regulations

by
Reading Time: 4 minutes
Changes in Appraisal Timelines Banks have found it increasingly challenging to obtain, in a timely manner, the required appraisals and evaluations needed for real estate-related financial transactions. In response, the OCC, FRB, FDIC, and NCUA agencies, working with state financial regulators, have issued an interagency statement to specifically address those …

Read moreHow COVID-19 is Impacting Banking Regulations

DOL Guidance for Employers: Action Needed for April 1

Risk-based Supervision and Your Next BSA/AML Exam

by
Reading Time: 2 minutes
The FFIEC released an update to the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) examination manual on April 15, 2020 for the first time in six years.  As the trend has been with regulatory exams, a risk-based approach is how BSA/AML exams will be designed going forward. Important Exam Manual Update: Be …

Read moreRisk-based Supervision and Your Next BSA/AML Exam