10 Most Common PPP Loan Forgiveness Issues

10 Most Common PPP Loan Forgiveness Issues (+ How to Fix)

Read on to learn what to be careful of when completing your loan forgiveness application to avoid PPP loan forgiveness issues others have faced.

Top 10 PPP Loan Issues Needing More Guidance - Knox Law Firm

As most are now aware, the SBA has placed a 25% cap on use of the PPP loan funds for so-called non-payroll costs (rent, utilities, mortgage ...

Majority of Paycheck Protection Program loans have been forgiven ...

... PPP loans totaling about $315 million, has a more forgiving view. ... more than 200 people a day to as few as 10. A $45,000 PPP loan kept ...

SBA Paycheck Protection Program Loan Forgiveness Issues for ...

Please check SBA.gov/coronavirus for the most up-to-date information. Page 3. Debt Deferment & Relief. EIDL. PPP ...

SBA PPP Loan Concerns Linger for Small Businesses

1. Many PPP loan forgiveness applications are still in limbo at the SBA. · 2. Your PPP loan was fully forgiven years ago. · 3. The government ...

Five Common Concerns About PPP Loan Forgiveness Applications

Article Authors · 1. Different inputs can equal different outputs. · 2. Coordination with the EIDL advance. · 3. Eligible payroll costs. · 4. Ratio ...

Five Key Issues: PPP Loans and Loan Forgiveness Requirements

The loan forgiveness amount requested for owner-employees and self-employed individuals payroll compensation can be no more than the lesser of 8 ...

The Top 3 PPP Forgiveness Mistakes | PKF O'Connor Davies

Most banks have not yet started accepting loan forgiveness applications because of the lack of definitive guidance on a number of issues. Even ...

Update: 10.5 million PPP loans were forgiven. Here's why.

How do borrowers qualify for loan forgiveness? ... If borrowers use at least 60% of the loan to cover payroll within 8 or 24 weeks after receiving ...

Top 10 Insights from the SBA's PPP Loan Forgiveness Application

Top 10 Insights from the SBA's PPP Loan Forgiveness Application · 1. Permits Use of Alternative Payroll Covered Period · 2. Limited Clarifications ...

What are the Red Flags for PPP Loan Fraud? - Federal Lawyer

Another key aspect of the PPP is that loans issued under the program are eligible for forgiveness if they are used entirely for authorized ...

Ten Things We Need To Know About Paycheck Protection Program ...

In recent guidance, the SBA stated that no more than 25% of the forgivable amount of a PPP loan can be attributable to non-payroll costs. This ...

Treasury Issues New FAQs on PPP Loan Forgiveness

The SBA has issued a new round of Frequently Asked Questions (FAQs) on PPP loan forgiveness. Here are key points from the 10+ pages of FAQs. READ MORE.

The Latest Changes to SBA PPP Loan Forgiveness and What You ...

Millions of small businesses received funding from the Small Business Association (SBA) Paycheck Protection Program (PPP) which has generated even more ...

The SBA Issues Updated PPP Loan Forgiveness FAQs - Franczek P.C.

Borrowers struggled to determine the timing on when they had to incur and/or pay certain payroll and nonpayroll costs in order for them to be ...

Answering Common Questions About PPP Loan Forgiveness

The terms electricity, gas, water, telephone, and internet access are fairly straightforward. PPP borrowers should be entitled to forgiveness of these expenses ...

The PPP Turns Four: Lessons Learned and What Lies Ahead

... loan forgiveness, the SBA has decided to audit ... PPP loans and the government has recovered more than $48.3 million in improper loans.

PPP--Loan-Forgiveness-FAQs.pdf - Treasury

In no event may the Covered Period extend beyond December 31, 2020. 3 Borrowers with a biweekly (or more frequent) payroll schedule may elect to ...

New FAQs address PPP loan forgiveness issues

... frequently asked questions regarding the forgiveness of Paycheck Protection Program loans. The FAQs, published in a new 10-page document ...

What you need to know about PPP loan forgiveness - LB Carlson

If your business had a quarter-over-quarter reduction in revenues of 50% or greater when comparing 2019 to 2020, a more detailed look at how to ...