Details on Second Round of the Payroll Protection Program (PPP)
Here are some of the early details of the second round of Payroll Protection Program (PPP) as passed by Congress this week. Key provisions include:
- It is for small private businesses with less than 300 employees, self-employed individuals, sole proprietors, and independent contractors.
- To be eligible, your company’s revenue must have gone down 25% in […]
June 2020 Updates for the Paycheck Protection Program Loan Forgiveness
The federal government updated it’s guidelines for loan forgiveness for the Paycheck Protection Program (PPP). Here is a summary of changes:
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Only 60% of funds now need to go toward payroll.
The new guidelines reduce the amount of the loan needed to be spent on payroll from 75% to 60%, thus increasing the amount of […]