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Recent Insights
Accounting for PPP Loans
Reading Time: 2 minutesAs part of the CARES Act, many banks are participating in the SBA’s Paycheck Protection Program (PPP), providing funds to hundreds of Americans and small businesses. Once the loans are funded, then what? We’ve received many questions on how to account for the PPP loans processing fees – such as, …
PPP Loan Update: SBA Releases ‘Good Faith’ and Safe Harbor Thresholds
Reading Time: 2 minutesUpdate: Safe Harbor Thresholds date extended to May 18, 2020 for PPP loan repayment. In response to uncertainties surrounding the good faith certification requirement on Paycheck Protection Program (PPP) loans, the Small Business Administration (SBA), in consultation with the Department of the Treasury, has announced a determination of safe harbor …
Read morePPP Loan Update: SBA Releases ‘Good Faith’ and Safe Harbor Thresholds
Fed Provides Clarity on Main Street Lending Program for Small and Medium-size Businesses
Reading Time: 3 minutesFollowing its release of the Main Street Lending (MSL) program three weeks ago, the Federal Reserve has issued more detail on guidance, answered Frequently Asked Questions (FAQs), and made some adjustments to the original scope of the program. “After listening to the press conference delivered by Fed Chair Powell, and …
Read moreFed Provides Clarity on Main Street Lending Program for Small and Medium-size Businesses
PPP Certification Criteria: 3 Questions for Every Business
Reading Time: 3 minutesRecently, we learned that Shake Shack, the LA Lakers organization, and many other businesses have returned Paycheck Protection Program (PPP) funds due to concerns over alleged misuse of the program’s loan criteria. In response to these highly publicized events, U.S. Treasury Secretary Steven T. Mnuchin and SBA Administrator Jovita Carranza …
Read morePPP Certification Criteria: 3 Questions for Every Business
PPP Update: Good News for Businesses with H-2A Workers
Reading Time: 2 minutesEarlier in April, the Small Business Administration (SBA) and Department of Treasury addressed whether businesses should include any non-U.S. laborers in their employee count applicable to the Paycheck Protection Program (PPP) by simply excluding any compensation of an employee whose principal place of residence is outside of the United States. …
Read morePPP Update: Good News for Businesses with H-2A Workers
New Senate Bill Approves Ag Small Businesses for Disaster Loan Eligibility
Reading Time: 2 minutesUpdate May 4, 2020: SBA is now accepting COVID-19 Economic Injury Disaster Loan and Advance applications for agricultural small businesses on a limited basis. Click here to visit the application on the SBA website. Loveland, CO – April 21, 2020 – Following weeks of lobbying the Small Business Administration (SBA) …
Read moreNew Senate Bill Approves Ag Small Businesses for Disaster Loan Eligibility
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