COVID-19 Finance News

SBA’s Economic Injury Disaster Loans and Advance Program Reopened

SBA’s Economic Injury Disaster Loans and Advance Program Reopened to All Eligible Small Businesses and Non-Profits Impacted by COVID-19 Pandemic Release Date: June 15, 2020 — Release Number: 20-47 WASHINGTON – To further meet the needs of U.S. small businesses and non-profits, the U.S. Small Business Administration reopened the Economic Injury Disaster Loan (EIDL) and…

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Paycheck Protection Program Flexibility Act

Paycheck Protection Program Flexibility Act of 2020 On Wednesday, June 3, 2020, the U.S. Senate passed the Paycheck Protection Program Flexibility Act of 2020 (H.R. 7010). The bill passed the U.S. House of Representatives last week and now heads to the President for signature. The bill provides the following modifications impacting Paycheck Protection Program (PPP)…

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Plan for a PPP Audit

How to Plan for a PPP Audit The Small Business Administrator Jovita Carranza and U.S. Treasury Secretary Steven Mnuchin recently announced that recipients of Paycheck Protection Program (PPP) loans of $2 million or more should expect an audit if they apply for loan forgiveness. Here are some tips to position your small business or not-for-profit…

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SBA Good Faith Certification for PPP Loans

Anticipated Guidance Issued From the SBA Regarding Good Faith Certification Related to PPP Loans by Anita Anand, JD The Paycheck Protection Program enacted as part of the CARES Act on March 27, 2020, recently garnered attention on the recipients of the loans. Specifically, the media identified public companies that received the loans and were viewed by…

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Should You File a Business Interruption Claim for COVID-19 Losses?

Should You File a Business Interruption Claim for COVID-19 Losses? With much of the country currently on lockdown due to the novel coronavirus (COVID-19) crisis, many nonessential businesses have been shuttered. As a result, millions of small business owners find themselves on the brink of financial disaster. For those with business interruption insurance policies in…

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