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PPP loans deadline extended to May 31
Move takes pressure off banks, businesses and backlogged SBA
Businesses and banks received a two-month extension to apply for Paycheck Protection Program loans this week, as President Joe Biden signed legislation delaying the deadline for the latest round of PPP loans from March 31 to May 31. This week’s extension takes some of the pressure off bankers and businesses, says Steve Yeakel, president and
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Business groups ask Va. lawmakers for higher PPP tax deductions
House of Delegates, state Senate bills differ on amounts
Published
Virginia’s two legislative bodies have not yet agreed on an amount that Virginia businesses can deduct from federal Paycheck Protection Program loans they received last year, and how much of the loans they’ll have to pay state taxes on. Business groups are asking state lawmakers to allow higher deductions — especially for sectors like hospitality
Applications open Jan. 19 for new PPP round
Some small businesses that already received funding eligible for additional funding
Published
The relief loan floodgates will reopen Tuesday, as the U.S. Small Business Administration opens the latest $284.5 billion round of Paycheck Protection Program (PPP) funding available. This time, borrowers who received allocations during the initial rounds of PPP funding in 2020 can reapply under Second Draw PPP Loan applications. First Draw PPP Loans are for
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PPP loans could make comeback in time for holidays
Bankers, CPAs stand by for potential $300B PPP round
Published
Congress could pass a third round of the U.S. Small Business Administration’s Paycheck Protection Program funding just in time for the holidays. A bipartisan group of U.S. senators on Monday introduced a $908 billion coronavirus relief bill, including an estimated $300 billion set aside for another round of PPP funding. In April, the first $349
These 16 Va. companies received $10M PPP loans
SBA releases comprehensive list of PPP loan recipents, amounts
Published
The U.S. Small Business Administration on Tuesday released additional information about all approved borrowers from its $659 billion Paycheck Protection Program (PPP) small business relief program, this time including exact company names, loan amounts, addresses and other information. Previously, the government in early July had released an incomplete list of recipients, including only ranges of