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May 7, 2024 · The PPP authorized up to $349 billion and is implemented by the SBA with support from the Treasury. Section 1106 provides for forgiveness of up to the full principal amount of qualifying PPP loans. On April 2, 2020, SBA issued the First PPP Interim Final Rule to outline the key provisions of Sections 1102 and 1106 of the CARES Act in formal ...
- Patricia O'connell
Apr 25, 2024 · SBA's West Virginia District Office is providing defaulted Paycheck Protection Program (PPP) borrowers with guidance on how to apply for loan forgiveness. The SBA recently issued a policy change allowing all PPP borrowers to apply for loan forgiveness through the SBA PPP Direct Forgiveness Portal, regardless of loan size or Lender.
May 3, 2024 · The Small Business Administration (SBA) Wednesday announced it was making changes to its Paycheck Protection Program (PPP) loan forgiveness application process. The changes “allow all PPP borrowers to apply for loan forgiveness through the SBA PPP Direct Forgiveness Portal, regardless of their loan size or Lender.” It also requires all lenders to process forgiveness applications
- America's Credit Unions
May 13, 2024 · Business owners seeking support for EIDL can contact the SBA by calling the COVID-19 EIDL Customer Service at 833-853-5638 or by emailing COVIDEIDLServicing@sba.gov. For non-COVID EIDL and physical loss loans, assistance is provided by emailing disastercustomerservice@sba.gov or by calling 800-659-2955.
4 days ago · You should review the requirements and guidance provided by the SBA for complete information regarding PPP. The SBA continues to release updated guidance: visit SBA.gov and Treasury.gov. Additional Resources. For PPP Forgiveness support, call us at 305-448-6500. Click here for our Forgiveness Application Userguide(Opens in a new tab).
May 9, 2024 · The SBA PPP loan forgiveness process can be complicated, and denial can have serious financial consequences for small businesses. As a CPA, you can play a critical role in helping clients prepare ...
May 12, 2024 · All borrowers need to retain files for six years: The application states that all borrowers must retain all documentation regarding eligibility, necessity of the loan, and documents supporting amounts paid – including cancelled checks, leases, employee records, etc. – for six years to permit SBA and OIG to access files upon request for review.
