Paycheck Protection Program (PPP) Frequently Asked Questions Regarding Spending Loan Proceeds How can my business use PPP funds? The purpose of the PPP is to help you retain your employees, at their current base pay, and cover other essential business expenses like rent, mortgage or utility payments. You may use as much as you want…
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Paths to Profits: Virtual Summit – April 30, 2020, 8:30 am – 3:30 pm.
Receive Expert Guidance, Resources & Tools to Keep Your Business Thriving During and After the COVID-19 Pandemic. OlenderFeldman is pleased to sponsor and participate directly in this upcoming Zoom event hosted by the Business Innovators Alliance. The Firm’s Employment Practices Partner, Howard A. Matalon, will be live during this outreach program to provide practical guidance…
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Paycheck Protection Program Second Interim Final Rule Summary – April 16, 2020
On April 14, 2020, the SBA released a second interim final rule clarifying various aspects of the Paycheck Protection Program (PPP). Individuals with self-employment Income who File a Form 1040, Schedule C are eligible for a PPP loan if: (i) they are in operation on February 15, 2020; (ii) are an individual with self-employment income…
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If You Are Seeking a Loan Under the CARES Act, Compliance is Key
The Coronavirus Aid, Relief, and Security Act (“CARES Act”) will provide billions of dollars in loans and assistance to the private sector. This will include loans for payroll and operating expenses under the Paycheck Protection Program (“PPP”) and economic injury disaster loans (“EIDL”). However, companies seeking to take advantage of the relief provided under this…
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