Yesterday, the Small Business Association (SBA) released the revised Paycheck Protection Program Loan Forgiveness Application. The application form can be obtained through the SBA’s website by following this link: Application.
The year 2020 brought us a perfect storm of economic disaster. Covid-19 hit with a vengeance leaving many unemployed with little foreseeable relief. Businesses have faltered from the shut-down and uncertainties that came with it. The collapse of the oil industry added insult to injury. Customer orders have been cancelled and customers are not returning because their customers are likewise not returning. Businesses fortunate to receive money under the Payroll Protection Program loans have exhausted those funds or will in the not too distant future with little to no relief on the horizon. Looking forward, it is hard to see the light at the end of the tunnel. What do they do?
Last Friday, the federal government enacted the Paycheck Protection Program Flexibility Act (PPPFA). The PPPFA was designed to make it easier for PPP loan recipients to obtain full forgiveness of their loans. The following are some of
the changes to the original payroll protection program.
With the Texas economy reopening, one of the things on everyone’s mind is how to keep employees safe and healthy in a Covid-19 environment. One thing that is expected is that there will be an increase in claims and potentially lawsuits claiming that employers did not do enough to protect their employees from becoming ill with Covid-19.
The Small Business Association (SBA) announced the release of the Paycheck Protection Program Loan Forgiveness Application and forgiveness calculation form effective May 15, 2020.
Every business owner needs to understand the implications of the Corona Virus relief acts as well as the benefits to the employer. This article summarizes the legislation recently enacted.