Paycheck Protection Program

Federal Reserve Extends 4 Emergency Lending Programs

Nov30,2020

The Federal Reserve on Monday said it had extended four backstop lending programs that have helped to stabilize short-term funding markets after the coronavirus pandemic hit the United States. The four programs include the Commercial Paper Funding Facility, the Money Market Mutual Fund Liquidity Facility, the Primary Dealer Credit Facility, and the Paycheck Protection Program Liquidity Facility. All had been […]

SBA Releases New Simpler PPP Loan Forgiveness Form

Oct12,2020

By NJBIA

The U.S. Small Business Administration has released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less that allows borrowers to self-certify they used the money appropriately and receive complete forgiveness. According to attorney Scott Borsack, a partner at Szaferman Lakind in Lawrenceville, the new loan forgiveness application form (3508S), […]

SBA, Treasury Release Updated Paycheck Protection Program Loan Data

Jul07,2020

By NJBIA

The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, releasing detailed loan-level data yesterday regarding the loans made under the Paycheck Protection Program (PPP). This disclosure covers each of the 4.9 million PPP loans that have been made. “The PPP is providing much-needed relief to millions of American small businesses, supporting more […]

Understanding SBA’s Complex PPP Loan Forgiveness Application

Jun10,2020

By NJBIA

If you’re one of the 135,203 New Jersey businesses that received a Paycheck Protection Program loan, there’s something you need to know about the online loan forgiveness application: It’s about to change. Attorney Scott Borsack, a partner at Szaferman Lakind, said Tuesday that the new federal Paycheck Protection Program Flexibility Act signed into law June […]

Key Things to Know about PPP Loan Forgiveness Applications

May28,2020

By NJBIA

New Jersey business owners hoping to qualify for forgiveness of their Paycheck Protection Program loans should pay attention to a few key provisions of the federal government’s online application that could increase their odds of success, according to attorneys from Archer Law. In an NJBIA webinar on Wednesday, attorneys Tim Cunningham and David Weinstein said […]

Paycheck Protection Program

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