![[Webinar] PPP 2021 Program – Updates on Loan Applications, Rule Changes, Eligibility, Forgiveness, and Interaction with ERTC](https://www.krostcpas.com/wp-content/uploads/Webinar_-PPP-Second-Draw-Program-–-Rules-for-Eligibility-and-Forgiveness-2.jpg "[Webinar] PPP 2021 Program – Updates on Loan Applications, Rule Changes, Eligibility, Forgiveness, and Interaction with ERTC")
The PPP loan program is evolving fast with new rules on Second Draw applications, including a 2-week pause on companies with 20 or more employees and new calculations for sole proprietors. In addition, both the lenders and the SBA are reviewing, rejecting, and putting holds on many applications because of API errors, compliance failures, and … Read More
Since the CARES Act passed into law in March, there have been new laws, multiple rule publications, and over 50 FAQs released by the SBA regarding the PPP and EIDL loans. KROST’s subject matter experts have compiled a list of frequently asked questions below: Question: How are full-time equivalent employees calculated in the 2nd PPP? … Read More
KROST has now assisted over 50 clients prepare and submit PPP loan forgiveness applications to their lenders and those submitted to the SBA had 100% forgiveness. Although there is no immediate rush to submit loan forgiveness, there are two main reasons companies are applying now rather than later. First, once forgiven, you can take the … Read More
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
Pasadena, CA August 10, 2020 – Award-winning tax, accounting, and consulting firm, KROST, announced the launch of their PPP Loan Forgiveness Application Review Service for both Borrowers and Lenders. The 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 … Read More
![[Webinar Replay] The PPP Loan Forgiveness Application Process for Lenders and Borrowers with Live Q&A](https://www.krostcpas.com/wp-content/uploads/The-PPP-Loan-Forgiveness-Application-Process-1.jpg "[Webinar Replay] The PPP Loan Forgiveness Application Process for Lenders and Borrowers with Live Q&A")
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 goes over the KROST PPP Loan Forgiveness Review Service for lenders and borrowers, and how it addresses the forgiveness process in a timely and efficient manner, while ensuring compliance with the … 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
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
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
