Paycheck Protection Program & Forgiveness

About PPP:

The PPP is a forgivable loan program that helped small businesses keep their workforce employed during the COVID crisis. First Draw PPP loans made to eligible borrowers qualify for full loan forgiveness if during the 8- to 24-week covered period following loan disbursement. Second Draw PPP loans made to eligible borrowers qualify for full loan forgiveness if during the 8- to 24-week covered period following loan disbursement.

Notice: The Paycheck Protection Program (PPP) ended on May 31, 2021. Existing borrowers may be eligible for PPP loan forgiveness.

 

PPP Updates Archive:

• 9/24/21 Deep Dive: Updated Proskauer Detailed Analysis of Paycheck Protection Program (PPP) Forgivable Loans
• 9/9/21 SVOG, PPP Forgiveness, & Federal Update
• 7/29/21 SVOG, PPP Forgiveness, & Office Hours Update
• 7/28/21 PPP Update
• SBA FAQs Regularly Updated FAQs on PPP Loans by SBA and US Treasury
• SBA FAQs Regularly Updated FAQs on PPP Forgiveness by SBA and US Treasury
• SBA Data: Updated Weekly Data and Reports on the Paycheck Protection Program Loan and Forgiveness

• 5/26/21 SBA Administrator Isabel Guzman testifies before the U.S. Senate Committee on Small Business and Entrepreneurship on COVID Relief Programs

• 5/26/21 SBA Administrator Isabel Guzman testifies before the U.S. House Committee on Small Business on COVID Relief Programs

• 4/8/21  Deep Dive: Updated Proskauer Detailed Analysis of Paycheck Protection Program (PPP) Forgivable Loans
• 3/31/21 South Arts Webinar: American Rescue Plan Webinar Slides presented by Nina Ozlu Tunceli
• 3/25/21 SBA Update: PPP Application Deadline Extended to May 31, 2021
• 3/18/21 AAF Webinar: American Rescue Plan Video Recording
• 3/18/21 AAF Webinar: American Rescue Plan Slide Deck

• 3/18/21 SBA Form: 2483-C (3/21) PPP 1^st Draw Self-Employed, Schedule C Tax Filer requesting gross income for the loan calculus and includes the updated SVOG certification.

• 3/18/21 SBA Form: 2483 (3/21) PPP 1^st Draw for all non-schedule C small businesses requesting W2 employee payroll costs for the loan calculus and includes the updates SVOG certification. 

• 3/18/21 SBA Form: 2483-SD-C (3/21) PPP 2^nd Draw, Self-Employed, Schedule C Tax Filer requesting gross income for the loan calculus and includes the updated SVOG certification.

• 3/18/21 SBA Form: 2483-SD (3/21) PPP 2^nd Draw for all non-schedule C small businesses requesting W2 employee payroll costs for the loan calculus and includes the updated SVOG certification.

• 3/15/21 American Rescue Plan Update
• 3/10/21 Press Release Congress Passes the American Rescue Plan
• 3/4/21 SBA Webinar: Second Webinar on New PPP Rules for Self-Employed Individuals
• 3/4/21 SVOG and PPP Update
• 3/3/21 SBA Webinar: First Webinar on New PPP Rules for Self-Employed Individuals
• 1/19/21 SBA Form: 3508-S PPP Forgiveness Shortest Form for loans of ≤$150,000 and the self-employed
• 1/19/21 SBA Form: 3508-EZ PPP Forgiveness "EZ" Form for loans with ≤25% salary cut, but no FTE job reduction
• 1/19/21 SBA Form: 3508 PPP Forgiveness Long Form with >25% salary cut, but all FTE jobs brought back by end of covered period
• 1/15/21 AAF Webinar: New PPP First & Second Draw Loans, EIDL, PUA
  • Learn How to Tap the New COVID-19 Economic Relief Funds for the Arts Slide Deck (Updated 1/21/21)
  • BHFS Sarah Mercer Slide Deck (Updated 1/21/21)
• 12/18/20 AAF Webinar: PPP Forgiveness Applications and Tax Implications
• 11/18/20 PPP Forgiveness Tax Guidance (Now overwritten by 12/27/20 enacted law)
• 6/17/20 AAF Webinar: PPP Loan Forgiveness Application and Flexibility Rules
• 5/29/20 AAF Webinar: PPP Loan Forgiveness