UPDATE | PPP LOAN - A LIFE LINE OR JUST A STRING ATTACHED ?


PPP LOAN  - A LIFELINE OR JUST A STRING ATTACHED?

The PPP Loan program has been a lifeline for many of our clients over the last several months. However, shortly after the program kicked off, it became mired in controversy and bad press from all the stories of large corporations receiving funding.  The immediate reaction was to add regulations that became a point of uncertainty and anxiety for many of our clients.

On May 13, the SBA and the Department of the Treasury provided additional guidance in the form of a Frequently Asked Questions release (find full release here). In short, the SBA has created a "Certification Safe Harbor" for a business that borrowed less than $2 million. The business that borrowed less than $2 million are automatically deemed to have made the financial-necessity certification on the loan application in good faith. While this does not guarantee forgiveness of the loan, it does shelter those businesses from facing the potential penalties from failing to show financial hardship.

This is very good news for many of clients who have faced the uncertainty from prior statements from the Treasury regarding audits and fraud charges.

Click here for the PPP loan forgiveness application.

Comments

  1. Jennifer K RobertJune 29, 2021 at 11:31 AM

    Hi everyone, My name is Jennifer from New Jersey , I saw comments from people who had already got their loan from Anderson Loan Finance. Honestly, I thought it was a scam, and then I decided to make a request based on their recommendations. A few days ago, I confirmed in my personal bank account amounting to $15,000 dollars which I applied for. This is really a good news and I am so very happy that I advise all those who need a real loan and who are sure to reimburse to apply through their email (text or call) +1 719 629 0982. There are sincere loan lenders! They are capable to lend you a loan. Contact Mr Anderson E-mail: andersonraymondloanfinance@gmail.com

    Phone: +1 719 629 0982


    E-mail: andersonraymondloanfinance@gmail.com

    Office address is (68 Fremont Ave Penrose CO, 812400).

    ReplyDelete

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