Does your business need a loan? Before contacting your bank, it’s important to gather all relevant financial information to prove your business is creditworthy. By anticipating information requests, you can expedite the loan application process and improve your chances of approval. Lenders love GAAP U.S. Generally Accepted Accounting Principles (GAAP) is a collection of specific…Read More
The U.S. Senate approved changes to the SBA’s Paycheck Protection Program (PPP) Wednesday evening, making the program’s lending terms more favorable. The bill now heads to President Donald Trump for his signature. If signed into law by Trump, the PPP Flexibility Act would: Extend the “covered period” under which small businesses can spend the loan…Read More
The Small Business Administration (SBA), in consultation with the Department of the Treasury, in its update FAQs, has determined that the following safe harbor will apply to SBA’s review of Paycheck Protection Program (PPP) loans with respect to any borrower that, together with its affiliates, received PPP loans with an original principal amount of less…Read More
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