SBA Archives

Interaction between PPP Loans and the Employee Retention Credit

The Consolidated Appropriations Act, 2021 (CCA), which was passed by Congress and signed by the president late last December, included a very tax-beneficial provision that liberalized the interaction between PPP loans and the Employee Retention…

SBA

Congress Has Authorized a Second Round of PPP Loans

Congress passed, and President Trump signed, the Consolidated Appropriations Act, 2021. Included in its approximately 5,600 pages is a second draw of forgivable Paycheck Protection Program (PPP) loans. The first round allowed loans to businesses…

Coronavirus, SBA, Small Business News

SBA Questioning PPP Borrowers with Loans Over $2 Million

When Congress initially authorized the Paycheck Protection Program, its intent was to provide loans that would be partially or completely forgiven if used for the intended purposes of helping businesses affected by COVID-19 stay afloat and to…

Coronavirus, Loans, SBA

Paycheck Protection Program and Health Care Enhancement Act: What’s In It?

President Trump has signed the Paycheck Protection Program and Health Care Enhancement Act (PPP & HCE Act), a $484 billion package which was passed by both the Senate and the House the week of April 20, 2020. PPP & The CARES Act Following…

Business, IRS, SBA

Coronavirus-Related Tax Relief for U.S. Families and Individuals

As Americans and global citizens, we are living in unprecedented times with the onset of coronavirus (COVID-19) around the world. As we work together to move through these difficult times together, the IRS has provided some tax relief provisions…

SBA, Small Business, Small Business News

Q&A: Understanding SBA Disaster Loans and What They Mean for You

If you’re a small business owner struggling financially due to the COVID-19 outbreak, there is help available. The SBA is offering Economic Injury Disaster Loans of up to $2 million – here are answers to the FAQs. How much funding…

Home Owners, IRS, SBA

What Does the $2 Trillion Stimulus Package Mean for You?

The “Coronavirus Aid, Relief, and Economic Security Act” (Cares Act) includes many tax and financial breaks for both individuals and businesses. We broke down many of the essential elements and how they can assist you and your business during…

Coronavirus, SBA

The SBA Is Providing Small Business Disaster Loans for Relief During the Coronavirus Outbreak

The U.S. Small Business Administration (SBA) has never faced a challenge like the COVID-19 outbreak, but they’re stepping up to help small business owners who are suffering financially during these uncertain times. The SBA’s mission is…