Nichole M. Baer

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The previous post on the third round of funding for the Paycheck Protection Program covered the big stuff – the necessity test, qualifications for taking out a second loan, and the latest attempt at simplified forgiveness. Here in Part 2, I’ll be going over the finer details, including EIDL advances, expense deductions, the ERTC, and other notes and restrictions.

Covered Period

The Act will permit you to select your covered period (i.e., the period in which you must spend the PPP loan funds).  The covered period must be greater than eight weeks and not more than twenty-four weeks beginning from the date of disbursement.
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Continue Reading Paycheck Protection Program Take Three? – Part 2

2020 has certainly been an interesting year.  Thankfully, it is ending with a new federal act aimed at relieving businesses, industries, and individuals affected by the COVID-19 pandemic.  It is known as the Consolidated Appropriations Act, 2021.

This Act consists of more than just a stimulus package. It also contains funding for the government through most of 2021.  My previous post, Finally, More Money! – The Consolidated Appropriations Act, 2021, covered a broad overview of the stimulus package.  This post will discuss the third round of the popular Paycheck Protection Program (PPP).

While this is the third round of funding for the PPP, it is only the second time a single business may apply for that funding. The second round of PPP funding went to qualifying businesses that missed out on money the first time.
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Continue Reading Paycheck Protection Program Take Three? – Part 1

It must be a Christmas miracle.  After deadlocking this summer and delaying over the weekend, the United States Senate and the House of Representatives have agreed to additional aid to those impacted by the COVID-19 pandemic.  The President has also signed this new bill, known as the “Consolidated Appropriations Act, 2021” (the “Act”).

The Act is approximately 5,000 pages long, so a detailed analysis will take some time.  Therefore, this post is not intended to be comprehensive, and many items are still being hammered out. Here’s what we know so far:

The Bare Bones

The Act consists of $900 billion in aid and was a compromise between the two parties.  As such, it is not perfect. There are some aspects of the Act that both sides of the aisle are criticizing.
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Continue Reading Finally, More Money! – The Consolidated Appropriations Act, 2021

On October 29, 2020, Governor Wolf signed House Bill 2438, Expanding Broadband Access with Existing Infrastructure, into law.  This new bill will make it easier for rural residents of Pennsylvania to access high-speed broadband internet by changing the rules for easements.…
Continue Reading Easing into Easements: PA Expands Access to Broadband Internet

On October 29, 2020, Governor Wolf signed into law House Bill 2370, which will permanently permit the use of remote notarization in Pennsylvania.  Before the passage of this bill, Pennsylvania did temporarily permit the use of remote notarization during the COVID-19 pandemic.

What is Remote Notarization?

Remote notarization is the notarizing of legal documents…

On October 8, 2020, the Small Business Administration (“SBA”) announced that they were making applying for forgiveness for Paycheck Protection Program loans (the “PPP”) easier for some borrowers.  The PPP program itself had two rounds of funding, including $310 billion added at the end of April. Now, borrowers who borrowed $50,000 or less in…

The COVID-19 Relief Pennsylvania Small Business Assistance Program is not brand new. Initially, it was anticipated to have four rounds of grants lasting until October 2020. The CARES Act passed in late March is providing the funding.  $96 million has already been distributed with about $104 million remaining for small businesses.

However, like everything else…

Since March, various entities and political subdivisions have created loan and grant programs to assist businesses and individuals facing COVID-19 related losses and damages.  We have discussed in prior blogs a series of larger programs, such as the Paycheck Protection Program. However, this post focuses on funding opportunities for farmers and ranchers.

Pennsylvania Department

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This blog post will cover a couple of updates to the Paycheck Protection Program (the “PPP”) since it launched in April. In the past month, more details have emerged about applying for loan forgiveness as well as the audit risk, disclosure of some PPP recipients, and application deadline.

Extension of Application Deadline

On July…