Paycheck Protection Program Archives

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What Small Businesses Need to Know About the Second Draw PPP Loans

March 9, 2021

PPP Part Two: What Your Small Business Needs to Know The second draw of the U.S. Paycheck Protection Program (“PPP”) permits an additional $285 billion in loans to pandemic-impacted businesses at an interest rate of one percent and with five-year maturation. PPP loans are not subject to collateral or personal guaranty requirement. An entity…

SBA loans – Can my PPP loan be forgiven in whole or in part?

April 6, 2020

After the Small Business Administration (SBA) applications under the CARES Act for the Paycheck Protection Program are now possible and many banks have opened their portals and applications are pouring in, the next question is: can the loan be forgiven? photo mysynergy.com The quick answer is: Yes. We suggest that you open a new bank…

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