Paycheck Protection Program Updates

PPP is Broker

By MATTHEW LUTTINGER & BRAN NOONAN of Date   May 8, 2020 The CARES Act created the Paycheck Protection Program (“PPP”), which amended the Small Business Act (“SBA”) to provide short term loans to companies with fewer than 500 employees and other companies (such as those in the restaurant and hospitality industry). Such […]

Covid-19 Update April 30, 2020

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By N. Richard Grassano, Boca Accounting, LLC Recent updates in relief packages and stimulus payments  Let us begin with the$ 1200/500 stimulus payments. Many of you may have received your US Treasury Check and many of you probably have not. The promised website to give you a status report on your […]

A Lookback on PPP and What Happened – the First Round

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The following is based on and extracted from an article in The Motley Fool by Ollen Douglass and a Report from the SBA. As of April 16, the SBA’s statistics are: Summary *Net Approved Dollars do not reflect the amount required for reimbursement to lenders per statute within the CARES Act. […]

The Small Business Owner’s Guide to the CARES Act

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This is based on a guide sent out from Senator Ben Cardin, Ranking Member – U.S. Senate Committee on Small Business & Entrepreneurship. Other than the SBA COVID-19 ECONOMIC INJURY DISASTER LOAN the CARES act provides for the following funding/loan programs: Capital to cover the cost of retaining employees. Then the […]