A new round of Paycheck Protection Program funding is available for businesses affected by the pandemic. Here’s what CPAs and business leaders need to know to get the funding they need.
The SBA and Treasury released updated Paycheck Protection Program loan forgiveness guidance and forms, including a one-page application for borrowers that received a PPP loan of $150,000 or less.
The SBA and Treasury issued guidance addressing how Paycheck Protection Program borrowers should calculate revenue reduction and maximum loan amounts for second-draw PPP loans — and what documentation should be provided to support those calculations.
The second version of the Paycheck Protection Program is not the same as the first. Two AICPA executives discuss what CPAs need to know.
New procedural guidance from the SBA outlines the processes Paycheck Protection Program borrowers and their lenders must follow to reapply for a first-draw PPP loan or request an increase to a loan approved by Aug. 8, 2020, which is when the first iteration of PPP stopped accepting applications.
Lenders with $1 billion or less in assets can start making Paycheck Protection Program loans on Friday, the U.S. Small Business Administration and Treasury announced. The application window will open for all lenders Jan. 19.
The new forms are Form 2483 for first-draw PPP loans and Form 2483-SD for second-draw PPP loans, which are available for previous PPP borrowers that need further assistance and meet eligibility requirements.
The US SBA and Treasury announced that community financial institutions that serve minority- and women-owned businesses exclusively will be able to make first-draw PPP loans starting Monday and second-draw PPP loans starting Wednesday.
The US SBA and Treasury released guidance for the revived and reconstituted Paycheck Protection Program. The guidance came in the form of two interim final rules, including one that details the guidelines for new PPP loans to businesses that previously received PPP funding.
Carefully chosen, well-implemented anti-bias courses can buttress a company’s diversity and inclusion program when they are part of a clear strategy.
Studies show that a diverse workforce is a more productive, more profitable one. Establishing a strong diversity and inclusion program takes time, effort, and, above all, commitment from top leadership. Use these guidelines when structuring a D&I program.
The $900 billion COVID-19 relief package passed Monday provides $284 billion for a revised Paycheck Protection Program (PPP) and clarifies that businesses can claim tax deductions for expenses paid for with forgiven PPP loans.
The economic slump resulting from the pandemic has increased the risk of asset write-downs and added to the pressure on auditors to scrutinize impairment models. Company boards also are paying more attention to forecasting and impairment.
Optimism is higher than in the third quarter, but plenty of obstacles remain, according to the AICPA’s quarterly economic outlook.
Small businesses may be able to solve cash flow problems by factoring their receivables, then selling them to a financial institution at a reduced price for cash upfront. Here’s how to find out if the strategy makes sense.
The coronavirus pandemic has disrupted companies' capital project plans, not only this year but most likely for the foreseeable future. This five-step risk-modeling approach can help finance leaders identify company vulnerabilities and capital expenditure opportunities.
An AICPA letter suggests that the need for certain borrowers to complete a new form and provide extensive documentation supporting their request for relief funds be reconsidered and that other approaches be evaluated in assessing a borrower’s good faith certification.
Energy producers are focusing on balance sheet strength and free cash flow as they recover from a severe blow dealt by the coronavirus pandemic.
The AICPA is among 80 organizations that have signed a pair of letters to SBA, Treasury and congressional leaders calling on the agencies to temporarily suspend use of the new Paycheck Protection Program Loan Necessity Questionnaires.
A new publication provides guidance on how to apply the Committee of Sponsoring Organizations of the Treadway Commission’s enterprise risk management framework to manage and mitigate compliance risks.