Around the world, businesses are emerging from various pauses and lock downs, some in better shape than others. Many businesses continue to grow and prosper, and many likely are doing so through a merger or acquisition. Others are looking to merge into or be acquired by other businesses. The M&A market was active before the […]
The Small Business Administration has released the revised Paycheck Protection (PPP) Loan forgiveness application which reflects the changes made to the PPP made on June 5th. The revised PPP forgiveness application is linked below: https://www.sba.gov/…/sba-form-paycheck-protection-program-… […]
Can an Employer that receives the Paycheck Protection Program loan receive the Employee Retention Credit as well? No, the provisions do not allow for an employer to receive the Employee Retention Credit if the employer also receives the PPP loan. Under the aggregation rules we are treated as a single employer. If one of the […]
Starting June 15th the Small Business Administration will begin accepting new Economic Injury Disaster Loan (EIDL) and EIDL advance applications. The loan advance of up to $10,000 is designed to provide economic relief to businesses that are currently experiencing a temporary loss in revenue. Both Small business owners and qualified agricultural businesses in all U.S. […]
One of the most significant features of the SBA’s Paycheck Protection Program is the forgiveness provision—the loans become grants for companies that use the loans to maintain their workforce levels. Companies that have met the stringent requirements need to fill out a form and follow instructions carefully—they include several measures to reduce compliance burdens and simplify the […]
Congress recently passed legislation to loosen some of the restrictions that came with the popular Payroll Protection Program. As of June 4, both the House and the Senate have passed these new provisions with near-unanimous approval and the president is expected to sign the bill. The new law runs only about 1,000 words, but contains […]