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Paycheck Protection Program Update (Part IV)

Webinar recorded 6.25.2020. Dent Moses partners Mike Baker and James Moody, along with Nicole Reed of Capital Solutions share current Paycheck Protection Loan Forgiveness updates.  Watch all our updates and recorded webinars on our YouTube Channel.

Paycheck Protection Program Flexibility Act – June 5, 2020 Update

On Wednesday, June 3, the Senate passed the House version of the Paycheck Protection Program Flexibility Act of 2020. As its name suggests, the legislation is intended to give borrowers more flexibility by extending the amount of time to spend PPP funds and by relaxing other requirements. The bi-partisan legislation is expected to be signed by President Trump.

Good News for PPP Loans Under $2 Million

On Wednesday, May 13, the SBA issued additional guidance extending an automatic safe harbor to borrowers with PPP loans less than $2 million. These borrowers are deemed to have made the required certification in good faith. This bright-line test is a relief for many who applied for loans and had concerns that some future SBA…
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