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 the full article…
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 the full article…
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 the full article…
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 the full article…
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…
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 the full article…
![[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 the full article…
![[Webinar] PPP – Calculating, Optimizing and Tracking Use of Funds to Maximize Loan Forgiveness](https://www.krostcpas.com/wp-content/uploads/PPP-Demo-Webinar-1.jpg "[Webinar] PPP – Calculating, Optimizing and Tracking Use of Funds to Maximize Loan Forgiveness")
Join us on Wednesday, May 13th at 10 AM, as we host a webinar led by Paren Knadjian, Head of M&A and Capital Markets at KROST. This webinar will give an update on the latest guidance on the use of PPP loan proceeds, best practices for the use of these loans, and will give a Read the full article…
![[Updated] Main Street Loan Programs – Terms and Loan Comparison Chart](https://www.krostcpas.com/wp-content/uploads/Updated-Main-Street-Loan-Programs-–-Terms-and-Loan-Comparison-Chart-.jpg "[Updated] Main Street Loan Programs – Terms and Loan Comparison Chart")
On April 30th, 2020, the Federal Reserve Board announced it is expanding the scope and eligibility for the Main Street Lending Program previously announced on April 9th. As part of its broad effort to support the economy, the Federal Reserve developed the Main Street Lending Program to help credit flow to small and medium-sized businesses Read the full article…
On April 24th, 2020, President Trump signed into law H.R. 266, known as the Paycheck Protection Program and Health Care Enhancement Act (PPPHCE Act) that will re-open the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) program by allocating additional funds to both. The Act makes $484 billion of additional funding available Read the full article…
