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23 November, 2020 /

Earlier in the year, the Small Business Administration (SBA) announced that it will be reviewing all Paycheck Protection Program (PPP) loans of $2 million or more. Borrowers whose loans meet this threshold amount should expect to receive a Loan Necessity Questionnaire form from their lender soon after they apply for loan forgiveness. While the forms are not...

16 October, 2020 /

We Are Ready to Help!   Perkins is ready to assist you with your PPP Loan Forgiveness calculation. Have you spent all of your PPP Loan money and your lender is accepting loan forgiveness applications? Please contact your Perkins team to get the process started. SBA & Treasury Simplify...

12 June, 2020 /

Hear a discussion on PPP loan forgiveness based upon current guidance with our CARES Team that includes: Overview of the loan forgiveness calculation Information regarding forgiveness reductions related to decreases in FTEs/wages Planning ideas to maximize the benefits of PPP A review of a loan...

11 June, 2020 /

On June 4, in response to the ongoing COVID-19 pandemic, Treasury provided increased flexibility for Qualified Opportunity Funds (QOF) and their investors with the release of Notice 2020-39. Find the full notice here and a summary of the highlights below. For more general information on...

04 June, 2020 /

The U.S. Senate voted to pass the Paycheck Protection Flexibility Act of 2020 (the Act) yesterday. It now moves to the President for likely signature. The Act contains the following major provisions beneficial to many borrowers participating in the CARES Act Paycheck Protection Program loans. The...

22 May, 2020 /

May 22, 2020 On Friday, May 15th, the SBA released the Paycheck Protection Program (PPP) Loan Forgiveness Application, with accompanying instructions. Our team has been brushing up on the details, and though there are still unanswered questions, we now have a good indication of the rules...

13 May, 2020 /

On May 13th, Treasury updated its Paycheck Protection Program (PPP) Frequently Asked Questions document by adding #46. As a reminder, in FAQ #31, Treasury had added an unclear requirement requiring that each borrower assess their ability to access other sources of liquidity in relation to their certification for the...

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