Financial Sense Blog

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On August 4th, the U.S. Small Business Administration (SBA) released additional guidance regarding forgiveness of Paycheck Protection Program (PPP) loans. In consultation with the U.S. Department of the Treasury, the SBA added 23 new questions to their PPP FAQ page. The SBA sorts the new loan forgiveness FAQs into the
The Main Street Lending Program is designed to help credit flow to small and medium-sized businesses and nonprofit organizations that were in sound financial condition before the onset of the COVID-19 crisis, but now need loans to help maintain their operations until they have recovered from, or adapted to, the
This article discusses how the coronavirus pandemic has impacted the way businesses operate on a day-to-day basis. One major difference the pandemic has resulted in is the increase in telecommuting. This article outlines some of the best practices for remote work. These practices include getting a clearer picture of which roles
Whether the impact is on a global, national, or individual industry level, this pandemic is already changing the way businesses are operating on a day-to-day basis. As we venture past the peak of the pandemic, businesses are going to have to adapt to the new world in which they reside
The Oregon Senate recently approved House Bill 4202, which will provide much needed revisions to the original Commercial Activity Tax (CAT) legislation enacted last year. The Bill passed by a 26-1 vote after unanimous approval in the House and is now headed to Governor Brown for signature. Significant revisions in
On Wednesday night, the Senate voted unanimously in favor of the Paycheck Protection Flexibility Act. This new legislation makes key adjustments to the timeline for spending Paycheck Protection Program (PPP) funds and revises how loan recipients are required to allocate the money. Here is a brief overview of the key
On May 23 the Small Business Administration in coordination with the Department of Treasury released their Interim Final Rules (IFRs) on PPP Loan Forgiveness. The IFRs codify rules previously suggested with the Loan Forgiveness Application and Instructions (the Application). Moreover, the IFRs add clarity and provide additional examples for the
On May 15, the SBA and Department of Treasury released the much anticipated PPP loan forgiveness application and related instructions (the Application). The Application provides significant clarity and borrower flexibility but continues to leave some questions unanswered. Clarification of the “Incurred and Paid” Language The statutory language of the CARES
As the country and even the world shift their attention to the seeming long-lasting impact of the Coronavirus, updates appear to be coming out each day. Whether the impact is on a global, national, or individual industry level, this pandemic is already changing the way businesses are operating on a
As the country and even the world shift their attention to the seeming long-lasting impact of the Coronavirus, updates appear to be coming out each day. Whether the impact is on a global, national, or individual industry level, this pandemic is already changing the way businesses are operating on a