SBA

Many advisors have clients who took out the forgivable loans. Some wealth management firms did the same. Three years after the government doled out more than $800 billion in mostly-free cash, here's what's happening.

The IRS and the Treasury Department are giving small businesses that received Paycheck Protection Program loans in the first round a way to deduct expenses they couldn’t claim last year.

Members of Congress are proposing bipartisan legislation to extend the deadline for Paycheck Protection Program loans another two months as accountants press for more time on the expiring program.

Using a Paycheck Protection Program loan to fund businesses outside your day job may be costly for brokers.

The U.S. Small Business Administration released a one-page form aimed at simplifying the process of applying for forgiveness of Paycheck Protection Program loans, along with newly revised and updated forms to meet the requirements of the latest stimulus legislation.

The U.S. Small Business Administration and the Treasury Department relaunched the Paycheck Protection Program on Monday to new borrowers, prioritizing loans from community lenders.

The firm determined that the staffers defrauded the SBA “by making false representations in applying for coronavirus relief funds for themselves.”

The agency has 90 days to review files and reach decisions.

The U.S. Small Business Administration has posted rules about how businesses who have been turned down for forgiveness of their Paycheck Protection Program loans can appeal the decision.

Investment advice firms netted hundreds of millions of dollars. Here’s where they’re based, what lenders they turned to, and more.

Jacob Gottlieb, whose $8 billion fund shuttered amid an insider trading scandal two years ago, received a $150,000 to $350,000 loan for his new shop.

Some advisors have questioned the ethics of taking the loans, intended to help small businesses keep their employees on payroll.

The Small Business Administration and the Treasury Department unveiled a simpler loan forgiveness application for the Paycheck Protection Program to reflect changes under the PPP Forgiveness Act.

Evidence suggests some minority-owned businesses can’t access loans, and the Trump administration is under pressure to report borrower demographics. The issue is gaining attention against the backdrop of protests over the George Floyd killing.

The SBA’s form clarifies some issues, but still leaves questions to be answered.

The latest version supplements the previously posted rules in order to help borrowers submit their loan forgiveness applications as provided under the CARES Act.

The new Paycheck Protection Program rules, which created a review process and timeline for paying lenders, did not extend the time borrowers have to comply or increase how much money can be spent nonpayroll expenses.

The U.S. Small Business Administration, in conjunction with the Treasury Department, released a loan forgiveness application for the SBA’s troubled Paycheck Protection Program, along with detailed instructions for the application.

Little-known provisions include the economic injury disaster loan program, the employee retention credit and even an option to defer some payroll taxes.

About 5,500 large customers of the commercial banking business applied for funding. Nearly all of them got loans.