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SBA Announces Simplified Forgiveness Applications For PPP Loans Under $50K

by KNSS | Oct 12, 2020 | 2020 October newsletter, PPP Forgiveness

The SBA recently issued Form 3508S (https://home.treasury.gov/system/files/136/PPP-Loan-Forgiveness-Application-Form-3508S.pdf) which greatly simplifies the loan forgiveness application for practices that received PPP Loans of less than $50k. If you complete the...

No Rush On Your PPP Loan Forgiveness Application

by KNSS | Oct 5, 2020 | 2020 October newsletter, PPP Forgiveness

Practice owners who received the PPP loan earlier this year had 24 weeks to spend the funds on certain payroll and facility expenses to qualify for full forgiveness of that loan. For many of our clients, the 24-week Covered Period has recently ended. Did you know that...

PPP Rules On The Required Good-Faith Certification For Loans Less Than $2M

by KNSS | Aug 24, 2020 | August 2020 Newsletter, COVID-19, PPP Forgiveness

According to the Paycheck Protection Program Loan FAQs #46 as of August 11, 2020 available at: https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Frequently-Asked-Questions.pdf: Question: How will SBA review borrowers required good-faith...

PPP Forgiveness FAQS From Our Friends At TD Bank

by KNSS | Aug 10, 2020 | August 2020 Newsletter, PPP Forgiveness

Below is a list of “Frequently Asked Questions” put together by our friends at TD Bank to help answer some of their clients’ questions. This info should be helpful to anyone who received a PPP Loan. Loan Forgiveness Q: How do I apply for loan...

No Rush to Submit PPP Forgiveness Calculations to Your Lender

by KNSS | Jul 20, 2020 | July 2020 Newsletter, PPP Forgiveness

For many of you, the initial 8-week PPP Covered Period ended, and we?ve received a lot of inquiries about helping submit the forgiveness paperwork to their lenders. Please be patient as there is no rush. For starters, the Covered Period is now 24 weeks, so everyone is...

PPP Update For Including Owner Benefits In The Loan Forgiveness Calculation:

by KNSS | Jun 29, 2020 | PPP Forgiveness

The rules concerning whether retirement plan contributions and health insurance premiums paid on behalf of practice owners can be included in the PPP forgiveness calculation were revised yet again. According to the SBA on Page 4 of the information available at:...
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