EVERYTHING YOU NEED TO KNOW ABOUT THE PAYCHECK PROTECTION PROGRAM (PPP) - Leumi USA

EVERYTHING YOU NEED TO KNOW ABOUT THE PAYCHECK PROTECTION PROGRAM (PPP)

Leumi Small Business Initiative

COVID-19 is an unprecedented global pandemic that has changed the world and created new norms. Very quickly, it went from not only a medical pandemic but also a financial one. Many businesses are now experiencing shock they may not recover from. The journey towards recovery is going to be long, and as New York is struggling to reopen, we wanted

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SBA PPP – PPP Flexibility Act*

The Paycheck Protection Program (PPP) Flexibility Act of 2020 updates several aspects of the SBA PPP. * On June 5, 2020, the PPP Flexibility Act of 2020 (the Act) was enacted impacting aspects of the SBA PPP. Key Developments 1. PPP loans made on or after June 5, 2020 shall have a minimum maturity of five (5) years rather than

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SBA PPP – Loan Forgiveness*

 The Small Business Administration (SBA) published the Paycheck Protection Program (PPP) Loan Forgiveness Application*   On May 15, 2020, the SBA published the PPP Loan Forgiveness Application for borrowers. The Loan Forgiveness Application has four components, two of which must be submitted to the borrower’s lender:  PPP Loan Forgiveness Calculation Form (must be submitted to lender);  PPP Schedule A (must be

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SBA PPP Updated FAQ* 4/23/2020

The Small Business Administration (SBA) updated its guidance Frequently Asked Questions(FAQ) on Paycheck Protection Program (PPP) Loans and issued a new interim final rule* On April 23, 2020, the SBA issued a new guideline for PPP applicants. It was published as Question #31 in the Paycheck Protection Program Loans Frequently Asked Questions (FAQs). Question #31 provides additionalinformation relating to whether

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