COVID Relief - PPP #2

SBA EZ Form For Loan Forgiveness For PPP #1 and #2

Our COO explains the new EZ PPP Loan Forgiveness Application in our latest blog.

Changes in PPP - Q&A Session

Facebook Live: June 18th

Replay Link: Facebook Live - June 11

Changes in PPP - Q&A Session

Replay Link: Facebook Live - June 4

Changes and Improvements to PPP Loan Program

Replay Link

Improvements to the PPP Loan Program

Replay Link 

PPP Update: Payroll Costs can be less than 75% of the loan amount

Replay Link: Facebook Live - May 28

PPP Loan Forgiveness Updates

Replay Link: Facebook Live - May 21
PPP Loan Forgiveness Updates

Replay Link: Facebook Live - May 14
PPP Loan Forgiveness & FAQs

Replay Link: Facebook Live - May 7
PPP Loan Forgiveness

Important content and faqs:

• PPP Forgiveness Platform User Guide (Lender Instructions)

• FAQs  On PPP Loan Forgiveness  - As of 8/4/2020

• SBA EZ Form For Loan Forgiveness For PPP #1 and #2

• PPP Loan Forgiveness Application Form 3508EZ Instructions For Borrows

• PPP Borrower Application Form Revised June 2020
  

  PPP Loan Forgiveness Application

• Facebook Live - Senator Tim Scott (SC) co-sponsor of the Paycheck Protection Program of the CARES Act - April 8, 2020

• Download CARES Act Slides Including Loan Forgiveness (continuously updated)

• Top 10 Questions that still need to be answered by SBA on PPP
  
  

• Cares Act PPP: Clarity on Federal Taxes, 1099 Contractors & Benefits, But Questions Still Remain - April 7

• Q. Can you include housing allowance in CARES Act PPP application? We asked Senator Scott to clarify. He stated it was not included in your payroll cost calculation. However, as many of you have pointed out, there is nothing in the documentation about these costs, and several lenders are accepting these costs. We suggest you discuss this with your lender.

• Application for CARES Act Paycheck Protection Program (PPP) - FINAL 4.3.20202

• Read The Law: H.R. 748, This Act may be cited as the “Coronavirus Aid, Relief, and Economic Security Act” or the “CARES Act

• Download spreadsheet to compute Payroll Costs and estimate forgiveness of the PPP Loan

• April 13: Updated FAQ from Treasury on PPP

• Q. Should faith-based organizations be concerned about taking money from the Federal Government as it might penetrate the separation of church and state?

  • More from Senator Scott

• Q. Are we sure that churches and faith-based organizations are included in the Paycheck Protection Program of the Cares Act?

• Q. Will there be additional funding over the $350B currently funded to PPP?

• Q. Can federal taxes be included in Payroll Costs? It is clear now that zero federal taxes can be included in the Payroll costs. We are supposed to EXCLUDE the Federal Taxes for the covered period (Feb. 15, 2020 to June 30, 2020). 

• EIDL vs. PPP: What You Should Know

• Q.  Are 1099 Contractors included in Payroll Costs? 

• Q. Where Can I find a lender?
  • Senator Scott on Facebook Live
  • https://www.kabbage.com/

• Q. How long do you have to use the PPP loan to participate in the forgiveness of the loan? 

Other Resources

• 4/7 Paycheck Protection Program Loans FAQs

• Final US Treasury Direction 4/2/2020 - Paycheck Protection Program

• US Treasury Fact Sheet

• SBA's NonProfit clarification for Paycheck Protection Program

• Support to gross pay approach as calculation standard for PPP loans - Journal of Accountancy
  

• How To Calculate FTE Hours

• Why Churches & Nonprofits Should Apply NOW for Cares Act

• CARES Act Payroll Protection Program: How Lenders Can Participate

• Furlough vs. Layoff: The Differences You Need to Know

• Step-by-Step Guide to Getting CARES Act Assistance - Partnership with Pushpay

PREVIOUS FACEBOOK LIVE EVENTS:

• PPP Update: White Paper to document that PPP funds are “Necessary" - May  1

• CARES Act PPP Update: Clarity From SBA On Loan Calculation & More - April 27

• PPP Loan Forgiveness & Upcoming Facebook Live Event - April 21

• Facebook Live - Updates on the CARES Act and Paycheck Protection Program - April 6

• Facebook Live: CARES Act Applications and New Guidelines - April 3

• Facebook Live: SBA Has Issued New Federal Guidelines For CARES ACT: Application Available - April 1

• Facebook Live: What Can You be doing NOW That The CARES Act Passed? on March 30

• What should your 501c3 or small business be doing NOW to prepare for the passed CARES Act? on March 27

• Update to Senate Bill For Churches, Schools, Nonprofits, and  Small Businesses - on March 26

• Details of Senate Bill: The Financial Bridge that Churches, Schools & Nonprofits Need - on March 25