The federal government has approved an additional allocation of $310 billion for the SBA’s Paycheck Protection Program and the application process has re-opened. We are awaiting further guidance from the government on PPP forgiveness and on the Federal Reserve’s Main Street Lending program. We anticipate hosting a new webinar with our partners CrossFirst Bank and AGH following the issuance of that updated guidance.

Martin Pringle COVID-19 Relief Resource Guide:

• IRS: Employee Retention Credit under the CARES Act
• IRS: COVID-19-Related Tax Credits for Required Paid Leave Provided by Small and Midsize Businesses
• SBA/Treasury: Frequently Asked Questions for Lenders and Borrowers for the Paycheck Protection Program
• Treasury: Paycheck Protection Program (PPP) Information Sheet: Borrowers
• Federal Reserve: Main Street Lending Program Term Sheets
• IRS: Deferral of Employment Tax Deposits and Payments Through December 31 2020
• Treasury: The CARES Act Provides Assistance to Small Businesses