CFA Webinar on COVID and PPP Loan Forgiveness

Next week on Thursday, November 19, DDIFO will host another exceptional and timely webinar sponsored by the Coalition of Franchisee Associations (CFA) from 2:00 – 3:00 PM EST. While the country recovers from the elections, the prospects of a virus vaccine are much improved, but the effects of COVID-19 continue to shut down franchises across…

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SBA Circulating “Loan Necessity” Questionnaires

The Small Business Association (SBA) last week began sending out a new questionnaire, the Paycheck Protection Program Loan Necessity Questionnaire (SBA Form 3509), to businesses that received PPP loans in excess of $2 million during the coronavirus pandemic. The agency is demanding new details about individual business operations in order to justify the aid and…

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SBA Simplifies PPP Forgiveness

Notwithstanding whether or not Congress will pass as new relief bill and re-fund the Paycheck Protection Program as referenced above, the Small Business Administration (SBA) last week released a simpler loan forgiveness application and process for program (PPP) loans of $50,000 or less. In concert with the Department of the Treasury, the SBA said the…

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Small Business Week

Despite the challenging economic trials that small businesses are facing with the coronavirus shutdowns and other government restrictions, the U.S. Small Business Administration (SBA) is still trying to help small businesses succeed. Next week, September 22 – 24, the agency will sponsor its annual National Small Business Week Conference. The 2020 event however, will be…

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Paycheck Protection Program Expired

One of the bigger issues surrounding the failure of Congress to reach agreement on a new coronavirus relief package is the end of the Paycheck Protection Program (PPP). The loan program, which originally was scheduled to expire back in June, was extended until August 8 by Congress at the end of June. It was anticipated…

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SBA Releases New FAQ on Loan Forgiveness

Speaking of the Paycheck Protection Program, in conjunction with the Department of the Treasury, the Small Business Administration (SBA) this week released an updated Frequently Asked Questions (FAQ) guidance for businesses seeking forgiveness of their PPP loans. The FAQ provides plain language direction regarding such items as: payment requirements where a borrower submits a loan…

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SBA Disaster Loan Funds Runs Dry

As the Senate continue to debate next steps in terms of new coronavirus relief actions, a part of the Small Business Administration’s Economic Injury Disaster Loan (EIDL) program has run out of advance monies. The EIDL program, which was funded to the tune $20 billion in the CARES Act, provides that businesses that apply for…

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DOL Webinar Series

The US Department of Labor Wage & Hour Division will present the final webinar in its series, “Navigating COVID-19: A Virtual Guide for the Employment Community” at 1:00 PM CDT next Tuesday, July 28. In conjunction with the Internal Revenue Service  (IRS), Equal Employment Opportunity Commission (EEOC) and the Small Business Administration (SBA), this 1-hour…

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Upcoming Webinars

The US Department of Labor (DOL) has a couple of webinars scheduled over the next couple of weeks that will be very beneficial for many.  Coordinating with both the Internal Revenue Service (IRS) and the Small Business Administration (SBA) DOL will present “Navigating COVID-19: A Virtual Guide for the Employment Community” at 2:00 PM CDT…

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SBA Releases PPP Loan Information

The US Small Business Administration (SBA) this week released the list of recipients of Paycheck Protection Program loans made across the country. The release was delineated by the size of the loan granted to a business. For loans above $150,000, the information includes the borrowing entity name and address as well as the number of…

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