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Small businesses that received PPP loans of $50,000 or less can now apply for forgiveness using a simplified application form.
The SBA and Treasury Department released a new, five-page forgiveness application for small business owners who received a PPP loan
Meant to keep employees on the payroll during a time of tremendous upheaval in the economy, PPP loans were an attractive program to borrowers because of the interest rate of just 1%, and could be ...
President Trump signs the Paycheck Protection Program and Health Care Enhancement Act (H.R. 266), April 24, 2020. The Paycheck Protection Program (PPP) is a $953-billion business loan program established by the United States federal government during the Trump administration in 2020 through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help certain businesses, self ...
The Employee Retention Credit is a refundable tax credit against an employer's payroll taxes. [2] It was established as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), signed into law by President Donald Trump, in order to help employers during the pandemic. [3]
The CARES Act created the $349-billion Paycheck Protection Program, which provided low-interest loans to small businesses that were forgivable if they maintained their employees and payroll. The $349 billion was fully allocated within 13 days. During those 13 days, 1.6 million loans were approved by nearly 5,000 banks and other lenders. [3]
A key part of the Small Business Administration's Paycheck Protection Program is forgiveness. "The next big critical moment here is going to be some clear guidance on the forgiveness piece of this ...
A key part of the Small Business Administration's Paycheck Protection Program is forgiveness. "The next big critical moment here is going to be some clear guidance on the forgiveness piece of this ...