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In hopes of supplying liquidity to struggling businesses, the Paycheck Protection Program (PPP) was established under the Coronavirus Aid, Relief and Economic Security Act (Cares Act) to provide eligible businesses a loan to pay expenses such as: payroll cost of up to $ 100,000 per employee; benefits, including vacation and parental, family, medical, or sick […]
There has been a lot of recent news re. PPP audit risk and forgiveness rules. To catch up on these and other SMB lending issues, earlier today (June 4) I picked the brain of Gerri Detweiler, the education director at Nav, a fintech marketplace that connects small businesses with lenders and business credit cards. Detweiler has more […]
May 18, 2020 10 min read Opinions expressed by Entrepreneur contributors are their own. The SBA released its Paycheck Protection Program (PPP) Loan Forgiveness Application and clarified a few critical definitions and documentation requirements in their instructions. The forgiveness application is completed by the small-business borrower and is submitted to their bank or lender whom […]