All in Planning
Last week, on June 17, 2020, the SBA and U.S. Treasury released a revised loan forgiveness application for the Paycheck Protection Program (the “PPP”) and unveiled a new EZ application for the forgiveness of PPP loans. In addition, on Friday, June 19, 2020, the SBA released a revised interim final rule that implements changes to the Paycheck Protection Program Flexibility Act (the “Flexibility Act”).
You do not have to be in the world’s top five largest economies to figure out how to be resourceful. What happens when you cannot get what you need to make one of your best-selling products in the middle of a pandemic? It might seem like a disaster initially, but actually, it is a good opportunity to rethink your product, your price point, the way you manufacture your product(s) and your retail outlets.
In late May, the Small Business Administration, also known as the SBA released guidelines for the PPP (Paycheck Protection Program) Loan Forgiveness Application. If you were fortunate enough to receive a PPP Loan, that’s great. Now, it is time for you to see if you can benefit from the Loan Forgiveness segment of this plan.
