SBA Provides PPP Loan Forgiveness Application and Instructions
SBA Provides PPP Loan Forgiveness Application & Instructions May 20, 2020 Although loan forgiveness is one of the key features of the Paycheck Protection Program, guidance on forgiveness eligibility and information on how to seek forgiveness has been vague. On...
Update on PPP Good Faith Certifications
Update on PPP Good Faith Certifications May 13, 2020 Earlier today, the U.S. Small Business Administration (SBA) and U.S. Department of Treasury updated their FAQ document to address how good-faith certifications of companies receiving funds under the Paycheck...
Next Steps for Approved EIDL Applicants
Next Steps for Approved EIDL Applicants May 12, 2020 SBA seems to be progressing in processing the numerous Economic Injury Disaster Loans (EIDLs) that were applied for at the commencement of the COVID pandemic. Below is a refresher on the program that many small...
Updates and New Guidance on SBA Disaster Relief
Updates and New Guidance on SBA Disaster Relief May 11, 2020 The U.S. Small Business Administration (SBA) continues to update their FAQ document and provide additional guidance on the Paycheck Protection Program (PPP). Recently, the document was updated to address...
Ag Businesses Now Eligible for Economic Injury Disaster Loans and Grants
Ag Businesses Now Eligible for Economic Injury Disaster Loans and Grants May 5, 2020 The SBA has announced that agricultural businesses are now eligible for the Economic Injury Disaster Loan (EIDL) and EIDL Forgivable Advance programs. The application portal for these...
SBA Clarification on PPP Qualifications
SBA Clarification on PPP Qualifications April 30, 2020 HBE LLP has been monitoring the updates that the SBA has been releasing since it began funding the Paycheck Protection Program (PPP) and we have communicated those updates to you as we have become informed. The...
Additional Funding for Federal COVID-19 Loan Programs
Additional Funding for Federal COVID-19 Loan Programs Stimulus Package Replenishes PPP and EIDL April 24, 2020 Today, President Trump enacted the Paycheck Protection Program and Health Care Enhancement, the newest federal stimulus package aimed at providing economic...
The Impact of COVID-19 on Financial Statement Disclosures
The Impact of COVID-19 on Financial Statement Disclosures April 20, 2020 The novel coronavirus (COVID-19) was officially declared a public health emergency by the World Health Organization (WHO) on January 30, 2020. The result has been a dramatic shift in daily lives...
Best Practices for Nonprofits Receiving COVID-19 Relief Funding
By Krystal Siebrandt, CPA, CFE, CGMA, Partner Best Practices for Nonprofits Receiving COVID-19 Relief Funding April 20, 2020 Many nonprofit organizations are currently receiving COVID-19 relief funding, whether it be from the Paycheck Protection Program (PPP) loan,...
Reminder of 2020 Tax Filing Due Dates
Reminder of 2020 Tax Filing Due Dates April 16, 2020 In light of the various updates from the IRS regarding the change in tax due dates, we wanted to take the time to review the updated due dates for filings. As a general note, any filing and payment due dates between...