Articles
Congress May Forgive PPP Loans Under $150K
On June 30, 2020 U.S. Senators Kevin Cramer (R-ND), Bob Menendez (D-NJ), Thom Tillis (R-NC) and Kyrsten Sinema (D-AZ), Senate Banking Committee members, introduced the Paycheck Protection Small Business Forgiveness Act. This bipartisan legislation seeks to streamline forgiveness of Paycheck Protection Program (PPP) loans for small businesses by automatically forgiving all loans under $150,000. If [...]
Residential Rental Loans are Back
One of the first financing types kicked to the sidelines by lenders when the economy started sliding, was long-term residential rental property loans. It’s a difficult proposition for a lender to commit capital for an extended period of time at a fixed interest rate, when there is significant economic uncertainty and declining long-term yields. Additionally, [...]
President Signs PPP Flexibility Act into Law
This past Friday the President signed the Paycheck Protection Program (PPP) Flexibility Act into law. The law modifies the guidelines of the original PPP making the repayment terms and forgiveness components of PPP loans more “flexible” as the name of the bill states. The more relaxed PPP parameters will likely cause the remaining $100 billion [...]
Senate Passes PPP Flexibility Act
The House recently approved a bill to increase the flexibility of the Paycheck Protection Program (PPP), and yesterday (June 3, 2020) the Senate passed the bill with little opposition. Next, the bill will go to the President to sign into law, and once that occurs the remaining $100 billion of PPP funding will likely go [...]
Why Getting a PPP Loan is Still a Good Idea
The coronavirus aka COVID-19 is lasting much longer than most had thought and all had hoped. The wake of its destruction has left a decimated U.S. and global economy, and small businesses struggling to stay afloat and re-open as local governments begin to relax stay-at-home guidelines. The Paycheck Protection Program (also known as the PPP) is a [...]