Since the launch of the KROST PPP Loan Forgiveness Application Review Service, almost one-third of our clients that received PPP loans have already signed up. If you’re interested, our services are intended to aid both borrowers and lenders by taking on the burden of calculating forgiveness values, checking that expenses conform to the SBA forgiveness … Read More
The KROST PPP Budgeting and Forgiveness Maximization Tool allows you to budget and plan the use of PPP loan proceeds, on a month-by-month basis, to maximize forgiveness. This includes detailed staff planning, minimizing loan forgiveness reductions, and ensuring non-payroll related costs remain within the allotted 40%. You can also enter the actual expenditure for all … Read More
On June 8, 2020, the Federal Reserve Bank of Boston released updated Frequently Asked Questions (FAQs) and Term Sheets with respect to the Main Street Lending Program. Subsequently, on June 11, 2020, it released corresponding updates to many of the program’s documentation. The Board changed the terms and expanded its Main Street Lending Program to … Read More
The PPPFA On Friday, June 5, 2020, President Trump signed into law the Paycheck Protection Program Flexibility Act (PPPFA) that changes the forgiveness rules on the Paycheck Protection Program loans. The House passed the PPPFA by 417-1 vote on May 27th, and the Senate approved it by unanimous consent on June 3rd. The key changes … Read More
On Wednesday, June 3rd, the Senate passed the House Bill HR 7010, that modifies the Paycheck Protection Program. Senate Majority Leader Mitch McConnell (R-KY) brought up the Bill just after 7 pm Eastern Time, and the measure passed by voice vote. The next step will be for President Donald Trump to sign it into law. … Read More
This is a preview of one of the articles in the new KROST Quarterly Technology Issue, titled “The Streaming Wars: Technology Trends in Media and Entertainment” by Paren Knadjian. The U.S. media and entertainment (M&E) industry is the largest in the world. At $717 billion, it represents a third of the global M&E industry. It … Read More
On Thursday, May 28th, the House of Representatives passed a Bill, that, if ratified by the Senate and the President, would make significant changes to the rules governing forgiveness of PPP loans. The Bill, HR 7010, the Paycheck Protection Program Flexibility Act of 2020, was sponsored by Rep. Dean Phillips, (D-MN-3) and co-authored by Rep. … Read More
On Friday, May 15th, the Small Business Administration (SBA), in consultation with the Department of the Treasury, released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application. The form and instructions inform borrowers how to apply for forgiveness of their PPP loans, consistent with the CARES Act. SBA will also … Read More
The Department of Treasury has been updating its Frequently Asked Questions (FAQs) on the Paycheck Protection Program (PPP) on a regular basis. These FAQs may help you decide if you should return your PPP loan in full and still qualify for the Employee Retention Credit. The PPP loan must be repaid or returned by Monday, … Read More
![[Webinar Replay] PPP – Calculating, Optimizing and Tracking Use of Funds to Maximize Loan Forgiveness](https://www.krostcpas.com/wp-content/uploads/PPP-Demo-Webinar-Replay.jpg "[Webinar Replay] PPP – Calculating, Optimizing and Tracking Use of Funds to Maximize Loan Forgiveness")
If you missed our webinar led by Paren Knadjian, Head of M&A and Capital Markets at KROST, there is a recording available. This webinar gives an update on the latest guidance on the use of PPP loan proceeds, best practices for the use of these loans, and a demonstration of the KROST PPP Budgeting and … Read More
