Highlights from the PPP Flexibility Act
The Paycheck Protection Program Flexibility Act introduces vital updates for PPP borrowers, including extended loan forgiveness periods, adjustments to payroll vs. non-payroll cost ratios, and new safe harbors for wage and FTE reductions. The Act also provides flexibility for loan repayment and payroll tax deferrals. These changes aim to help businesses navigate financial challenges during COVID-19 recovery. Learn more about how these updates could benefit your organization.
PPP Process - The Latest & Greatest
With the Paycheck Protection Program (PPP) process still awaiting final guidance, it’s crucial for loan recipients to start planning now for loan forgiveness. From contacting your lender for guidance to tracking your payroll costs and full-time equivalents (FTEs), proper preparation will help maximize the forgivable portion of your PPP loan. This post covers key steps and tips for ensuring your business meets the requirements for loan forgiveness, plus advice for those awaiting Round 2 of PPP funding.”
PPP Funding - Where Things Stand
With the signing of the CARES Act, the Paycheck Protection Program (PPP) is open for applications. Inflammo provides a step-by-step guide to help businesses navigate the process, gather necessary payroll information, and prepare applications. Learn how to ensure compliance, work with financial institutions, and optimize your PPP loan application for success.