PPP Calculator Update and Webinar Replay: PPP Rule Changes and Forgiveness Update with Q&A

June 26, 2020By Paren Knadjian

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 the full article…

Main Street Loan Program – Updates

June 15, 2020By Paren Knadjian

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 the full article…

Important Update on Paycheck Protection Program (PPP) Loan Forgiveness

May 18, 2020By Paren Knadjian

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 the full article…