The Paycheck Protection Program Flexibility Act was signed into law on June 5, 2020. The act contains the following provisions that will change how PPP borrowers can maximize forgiveness of their loans. 1. Repayment Period Extension For new PPP loans, the repayment period has been extended from two years to five years from the date
We are all faced with the unique challenge of financial uncertainty, due to the economic impact of Covid-19. While our leases, expenses, and contract obligations remain fixed, our ability to work, the ability of our customers or clients to pay, and future economic prospects are all beyond our control. There are solutions, but they require
The Covid-19 challenge has changed our perspectives and redirected our planning, in ways we could have never expected. The two most directly impacted areas, for individuals, are health care and the ability to manage day-to-day finances. Many of you have already executed a Georgia Advance Directive for Health Care (“Advance Directive”) and Statutory Form Power
We hope you are doing well and continue to stay safe during these times. This newsletter is to update you on the recent Interim Final Rules issued by the SBA on April 14, 2020 and additional guidance regarding the Paycheck Protection Program (“PPP”) on April 2, 2020 which by be applicable to you and your
On March 27, 2020 we sent out a memorandum that provided details on Covid-19 aid available for small businesses. The CARES Act was officially signed into law later that day. As a result, we wanted to address some additional questions that you may have. Loans Available to Small Businesses: Small businesses (businesses with less than
