Paycheck Protection Program Borrower Application Form
SBA RELEASES REVISED PPP LOAN FORGIVENESS APPLICATION FOR BORROWERS WITH LOANS OF $150,000 OR LESS 400 400 SAX - Advisory, Audit and Accounting

SBA RELEASES REVISED PPP LOAN FORGIVENESS APPLICATION FOR BORROWERS WITH LOANS OF $150,000 OR LESS

On January 19, 2021, the Small Business Administration (SBA) released the revised Form 3508S for First Draw and Second Draw Paycheck Protection Program (PPP) borrowers seeking forgiveness on loans of $150,000 or less.  As detailed in the Consolidated Appropriations Act, 2021, this one-page form provides a simplified loan forgiveness process for borrowers meeting this loan…

read more
Paycheck Protection Program
SBA and Treasury Issue Guidance for First Draw and Second Draw PPP Borrowers 400 400 SAX - Advisory, Audit and Accounting

SBA and Treasury Issue Guidance for First Draw and Second Draw PPP Borrowers

With the recent re-opening of the Paycheck Protection Program (PPP) portals for all borrowers, the Small Business Administration (SBA), in conjunction with the U.S. Treasury Department, has been busy issuing guidance to borrowers covering a number of different topics.  Notably, the SBA issued the following (PPP) FAQs[1]: How to Calculate Maximum Loan Amounts for First…

read more
Join the Webinar: Reporting Requirements for HHS Provider Relief Fund 150 150 SAX - Advisory, Audit and Accounting

Join the Webinar: Reporting Requirements for HHS Provider Relief Fund

The Department of Health and Human Services’ (HHS) Provider Relief Funding (PRF) reporting portal has officially opened for eligible healthcare providers. Providers are required to register on the reporting portal at this time. The portal is not yet available to accept reporting information as previously anticipated. Providers who received one or more Provider Relief Fund…

read more
SBA WILL RE-OPEN PPP TO SMALL LENDERS ON JANUARY 15 AND ALL LENDERS ON JANUARY 19 150 150 SAX - Advisory, Audit and Accounting

SBA WILL RE-OPEN PPP TO SMALL LENDERS ON JANUARY 15 AND ALL LENDERS ON JANUARY 19

On January 13, 2021, the Small Business Administration (SBA) and U.S. Department of Treasury announced that the Paycheck Protection Program will re-open its portal for eligible lenders to apply for either the first or second draw of the loan. The portal will open within the following two stages: Friday, January 15, 2021: Lenders with $1…

read more
PPP Applications
SBA AND DEPARTMENT OF TREASURY ISSUE TWO NEW INTERIM FINAL RULES ON THE PAYCHECK PROTECTION PROGRAM 400 400 SAX - Advisory, Audit and Accounting

SBA AND DEPARTMENT OF TREASURY ISSUE TWO NEW INTERIM FINAL RULES ON THE PAYCHECK PROTECTION PROGRAM

On January 6, 2021, the Small Business Administration (SBA) and U.S. Department of Treasury issued two Interim Final Rules (IFRs) surrounding the Paycheck Protection Program (PPP).  The IFRs include the following Interim Final Rule #1: Business Loan Program Temporary Changes; Paycheck Protection Program Second Draw Loans: Implements the key provisions of the Second Draw PPP…

read more
Loans
SBA Extends EIDL Program to December 31, 2021 400 400 SAX - Advisory, Audit and Accounting

SBA Extends EIDL Program to December 31, 2021

On December 30, 2020, the Small Business Administration (SBA) extended the deadline to apply for Economic Injury Disaster Loans (EIDLs) from December 31, 2020 to December 31, 2021, pending the availability of funds.  Administered directly through the SBA, EIDLs provide qualified borrowers with economic relief through long-term 30-year financing with interest rates ranging from 2.75%…

read more
Webinar
WATCH THE WEBINAR: 2021 DENTAL MARKET WATCH 400 400 SAX - Advisory, Audit and Accounting

WATCH THE WEBINAR: 2021 DENTAL MARKET WATCH

In case you missed it, we invite you to watch our webinar discussion that focused on the 2021 Dental Market.  Our expert speakers provided insights on emerging trends in Dental Service Organizations (DSOs), market trends in dental practice mergers and acquisitions, HHS CARES Act Provider Relief Fund reporting requirements and PPP loan forgiveness. Panelists included…

read more
SBA Issues FAQ surrounding PPP Loan Necessity Questionnaires 150 150 SAX - Advisory, Audit and Accounting

SBA Issues FAQ surrounding PPP Loan Necessity Questionnaires

Earlier in 2020, the Small Business Administration (SBA) released loan necessity questionnaires for public comment for both For-Profit Borrowers (Form 3509) and Not-For-Profit Borrowers (Form 3510) with loans of $2 million or more.  The public comment period ended November 25, 2020, but we have yet to see if the SBA will revise the content based…

read more
SAX - Advisory, Audit and Accounting