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

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

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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SBA PPP Loan Forgiveness

What you need to know about loan forgiveness as part of the Small Business Administration(SBA) Paycheck Protection Program (PPP)* The SBA issued interim final rules on the PPP on April 3, 2020 and updated the PPP Information Sheet forBorrowers accordingly. The PPP allows small businesses to access unsecured loans to cover payroll,insurance premiums, mortgage, rent, and utility costs to help

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