Education in the Time of Coronavirus
Right now, many of us who are parents are trying to decipher, to reconcile, to discern, how our children are going to be educated this fall, whether they are in their public or private schools or in college, whether they have on-line learning set up or not. My daughter, Meghan, will be a junior this […]
Wait! Why it Doesn’t Make Sense to Apply for PPP Loan Forgiveness Yet
If you received the proceeds of a Paycheck Protection Program (PPP) loan in April or early May of 2020, and have not elected a 24-week covered period over the 8-week period you assumed you’d have, then you are done, and should apply for forgiveness as early as possible, to get the process completed, right? Well, […]
Reap the Benefits of Deliberate Practice
The recent passing of Anders Ericsson, who developed the deliberate practice theory, got me thinking once again on how profoundly helpful I have found putting that theory into practice. Ericsson influenced many thinkers and many books, including Geoff Colvin’s 2008 Talent is Overrated. While I believe talent exists, without work, talent won’t get you far. […]
SBA Begins Accepting New PPP Loan Applications; Good Faith Certifications
On Wednesday, July 1, 2020, the U.S. House of Representatives joined the Senate in passing a measure to extend the deadline to apply for PPP loans from the SBA – the extension passed both Chambers by unanimous vote, and President Trump signed it into law the day it was passed in the House. The initial […]
House Joins Senate, Passes Extension to Apply for PPP Loans
On Wednesday, July 1, 2020, the U.S. House of Representatives joined the Senate in passing a measure to extend the deadline to apply for PPP loans from the SBA – the extension passed both Chambers by unanimous vote. The application period ended at midnight on June 30; the extension approved will be for 5 weeks, […]
PPP Loans – Early Forgiveness Available, SBA Issues New Forgiveness Applications
Late last week, the U.S. Small Business Administration (SBA) issued revised PPP Loan Forgiveness Applications, and on Monday, June 22, 2020 they issued a new Interim Final Rule, bringing the application into conformity with the Paycheck Protection Program Flexibility Act, which was signed into law by President Trump on June 5, 2020. We use the […]
PPP Loan Forgiveness – SBA Issues New Interim Final Rule
On Tuesday, June 16, 2020, the U.S. Small Business Administration (SBA) issued a new Interim Final Rule concerning the Paycheck Protection Program (PPP) and loan forgiveness, to bring its guidance in-line with the Paycheck Protection Program Flexibility Act, which was signed into law by President Trump on June 5, 2020. The Act is retroactive to […]
New Guidance – Partial PPP Loan Forgiveness Intact
On Monday, June 8, 2020, Treasury Secretary Steven Mnuchin and SBA Administrator Jovita Carranza issued a joint statement clarifying that partial forgiveness of PPP loans will be available to borrowers who do not meet the “60% threshold,” i.e., those whose payroll-related expenses are less than 60% of their PPP loan expenditures. The Paycheck Protection Program […]
Senate Passes Bill to Relax PPP Loan Forgiveness
On Thursday, June 3, 2020, the U.S. Senate passed the House Paycheck Protection Program Flexibility Act by unanimous vote. There is good news here – the legislation, now with President Trump for signature: • Extends the window businesses have to use the PPP Loan funds (covered period) from 8 weeks to 24 weeks. • Reduces […]
House Passes Bill to Relax PPP Loan Forgiveness
On Wednesday, May 27, 2020, the U.S. House of Representatives passed the Paycheck Protection Program Flexibility Act by a vote of 417-1. Senate Majority Leader Mitch McConnell has said he hopes to bring the bill to a Senate vote “soon.” There is good news here – the House bill: • Extends the window businesses have […]