Tuesday 11/03/2020

Additional Funding for Healthcare Providers

The U.S. Department of Health and Human Services (HHS), through the Health Resources and Services Administration (HRSA), is announcing $20 billion in new funding for providers on the frontlines of the coronavirus pandemic. Under this Phase 3 General Distribution allocation, providers that have already received Provider Relief Fund payments will be invited to apply for […]

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Friday 10/30/2020

Ohio Small Business Relief Grant

State of Ohio Designates $125M of CARES Act funding to Small Business Relief Grants Governor Mike DeWine recently announced the allocation of $125 million of federal CARES Act funding to provide $10,000 grants to aid small businesses hurt by the current crisis. Additional funding was also announced for bars and restaurants, higher education, and nonprofits […]

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Monday 10/12/2020

Good News for Borrowers with loans of $50,000 or less

On October 8, the SBA released Form 3580S, a simpler loan forgiveness application for PPP loans of $50,000 or less. According to Secretary Steven T. Mnuchin, “The PPP has provided 5.2 million loans worth $525 billion to American small businesses, providing critical economic relief and supporting more than 51 million jobs. Today’s action streamlines the […]

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Important PPP Update for Borrowers Mid-Transfer

On October 2, the SBA released a Procedural Notice regarding PPP Loans regarding transfer guidelines. For purposes of the PPP, a “change of ownership” will be considered to have occurred when: (1) at least 20 percent of the common stock or other ownership interest of a PPP borrower (including a publicly-traded entity) is sold or […]

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