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COVID-19 Loan Information

PPP Deadline Extended to August

President Trump signed legislation on July 4 extending the deadline for small businesses to apply for Payment Protection Program loans to Aug. 8, reports The Hill.

PPP Loans Eligible for Payroll Tax Deferral

President Trump signed into law H.R. 7010, the “Paycheck Protection Program Flexibility Act of 2020,” on June 5, which modifies certain provisions related to forgiveness of loans under the Paycheck Protection Program and allows loan forgiveness recipients to defer their payroll taxes.

Federal Reserve Releases Additional Information on Main Street Lending Program

The Federal Reserve Bank of Boston recently released additional information for potential lenders and borrowers in the Main Street Lending Program, including a form loan participation agreement, lender certifications and covenants, borrower certifications and covenants, updated Frequently Asked…

House of Representatives Passes Two Bills to Improve PPP

The House of Representatives passed H.R. 7010, the Paycheck Protection Program Flexibility Act, on May 28. The legislation is written to improve the Paycheck Protection Program (PPP) by providing small businesses with greater flexibility when utilizing PPP loans. 

PPP Update: Loan forgiveness, audits and more

The Small Business Administration’s Paycheck Protection Program offers much-needed emergency financing for companies affected by the COVID-related economic downturn. However, the program has introduced numerous questions among business owners, many of whom are now concerned about available…

SBA and Treasury Release Paycheck Protection Program Loan Forgiveness Application

The Small Business Administration, in consultation with the Department of the Treasury, released the Paycheck Protection Program Loan Forgiveness Application and detailed instructions for the application.

Businesses Interested in CARES Act Main Street Lending Program Encouraged to Take Action

WDMA encourages small and mid-sized businesses interested in taking advantage of the Main Street Lending Program to prepare for applying now by reviewing the Eligible Borrower requirements.

Emergency Financing: Options for urgent, short-term and mid-term funding

During an April 22 webinar from the National Glass Association, financial expert Marco Terry, managing director of Commercial Capital LLC, provided an overview of emergency financing options for companies. Terry noted urgent funding available for companies in addition to options for short- and mid-…

Senate Approves Package to Add Funds to Small Business Lending Programs

The Senate approved a package on April 21 to replenish the depleted Paycheck Protection Program and Economic Injury Disaster Loan programs.