Tag Archives: PPP

Congress Passes the Paycheck Protection Program Flexibility Act

CALL NOW! Congress has just passed the Paycheck Protection Program Flexibility Act, which President Trump is expected to sign into law.  Significantly, this bill extends the time that businesses have to spend Paycheck Protection Program (“PPP”) loan funds and changes the PPP forgiveness rules.  Important aspects of the bill are summarized below. The Paycheck Protection… Read More »

Employers Must Have an Updated IIPP; New Guidance Regarding Forgiveness for PPP Loans

CALL NOW! COVID-19 Considerations For Injury Illness Prevention Program (IIPP) Q.  Does an employer need to have an IIPP? A.  Yes. California law requires every company doing business in California to have a written and effective IIPP (Labor Code § 6401.7 and 8 CCR § 3203.). Q.  What does an IIPP need to include? A.  An IIPP must… Read More »

SBA Issues Guidance on PPP Loan Program-10 Things to Know

  We highlight the following for borrowers:The SBA issued an Interim Final Rule related to “Business Loan Program Temporary Changes; Paycheck Protection Program.” This Rule is effective on publication in the Federal Register and applies until June 30, 2020, or the funds allocated are exhausted. It is available here. No more that 25% of the loan proceeds may be expended… Read More »

PPP/CARES Act Loan Application Attached

The U.S. Treasury Department Provides More Information and Loan Application for Paycheck Protection Program The PPP loan application cannot be filed until Friday April 3, 2020. Contact your bank to determine if you will be able to file with your banker on Friday! Link to Application: https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Application-3-30-2020-v3.pdf Link to Fact Sheet: https://home.treasury.gov/system/files/136/PPP%20Borrower%20Information%20Fact%20Sheet.pdf Summing it up -… Read More »

COVID-19 (Coronavirus) – Highlights of CARES Act

$2 Trillion Dollar Stimulus Bill Signed into Law – But Will it Help You? President Trump has signed into law a $2.2 trillion economic stimulus package known as the “Coronavirus Aid, Relief and Economic Security (CARES) Act.” Among other things, the Act allows certain eligible small and medium sized businesses to receive federal loans to cover… Read More »