SBA Issues Updated PPP Loan Forgiveness
Application and Instructions

The passage of the Paycheck Protection Program (“PPP”) Flexibility Act earlier this month made changes to the PPP loan program that seemingly required a new forgiveness application form and related instructions. Yesterday, the Small Business Administration (“SBA”) issued a revised forgiveness application and related instructions. At first glance, the form is shorter. However, a closer look reveals that the instructions are now in a separate document instead of included within the form itself.

While the revised forgiveness application and instructions are similar to the original version, there are key differences and several important points to note. View a summary of these changes by visiting us online.

The PPP Flexibility Act of 2020 

On June 8th, members of our COVID-19 response team provided an update on The Flexibility Act, which provides some relief and flexibility in the use of PPP loan funds. Review the Act's changes and considerations by accessing this webinar recording.

EIDL Open Again To New Applications

Eligible businesses and nonprofits impacted by COVID-19 have an opportunity to seek low-interest relief and an emergency advance grant through the Economic Injury Disaster Loan (EIDL). Is this a possible cash flow solution for your business?

Fixing The Restaurant Glitch

Within the CARES Act, Congress addressed the "restaurant/retail glitch” associated with the 2017 TCJA. As a result, the recovery period for QIP is reduced from 39 years to 15 years, thus making it eligible for 100% bonus depreciation through 2022.

Copyright © 2020

Our address is 230 West Street, Suite 700, Columbus, OH 43215

If you do not wish to receive future emails, click here to manage your subscriptions.
You can also mail your request to Customer Care at the address listed above.