Tag: PPP

ALL NAHB Members Who Have Received a PPP Loan Can Have Their Loan Forgiven

Filed in Advocacy, Disaster Response, Legal by on October 5, 2021 2 Comments
ALL NAHB Members Who Have Received a PPP Loan Can Have Their Loan Forgiven

It may sound too good to be true, but it isn’t: Thanks to NAHB’s recent legal victory, every NAHB member who has received a Paycheck Protection Program (PPP) loan can have their loan forgiven.

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NAHB Legal Win Means All PPP Loans to Members Can be Forgiven

Filed in Disaster Response, Legal by on September 30, 2021 4 Comments
NAHB Legal Win Means All PPP Loans to Members Can be Forgiven

In a case brought by NAHB and Michigan builders, a federal court ruled that all NAHB members who received PPP loans can have their loans forgiven regardless of SBA eligibility rules.

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Small Business Administration Streamlines Forgiveness Process for PPP Loans

Filed in Disaster Response by on July 29, 2021 11 Comments
Small Business Administration Streamlines Forgiveness Process for PPP Loans

The U.S. Small Business Administration (SBA) is launching a streamlined application portal on Aug. 4 to allow borrowers with Paycheck Protection Program (PPP) loans of $150,000 or less to apply for loan forgiveness directly through the SBA instead of going through their participating lender.

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Congress Extends PPP Application Deadline to May 31

Filed in Advocacy, Disaster Response by on March 25, 2021 1 Comment
Congress Extends PPP Application Deadline to May 31

With a March 31 deadline looming, the Senate voted 92-7 today to approve the PPP Extension Act. The legislation will extend the filing deadline for Paycheck Protection Program (PPP) applications by 60 days and provide an additional 30 days for the U.S. Small Business Administration to finish processing applications received by the new May 31 deadline.

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House Extends PPP Application Deadline to May 31

Filed in Advocacy, Disaster Response by on March 17, 2021 0 Comments
House Extends PPP Application Deadline to May 31

The House on March 16 approved the PPP Extension Act, which extends the filing deadline for Paycheck Protection Program (PPP) applications by 60 days and provides an additional 30 days for the U.S. Small Business Administration (SBA) to finish processing applications received by the new May 31 deadline.

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Biden Signs $1.9 Trillion Stimulus Bill Into Law

Filed in Advocacy, Disaster Response by on March 10, 2021 2 Comments
Biden Signs $1.9 Trillion Stimulus Bill Into Law

President Biden signed the $1.9 trillion COVID-19 relief package into law on March 11.

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Updated Guidance for 501(c)(6) Organizations Seeking PPP Loans

Filed in Advocacy, Disaster Response by on March 6, 2021 0 Comments
Updated Guidance for 501(c)(6) Organizations Seeking PPP Loans

The Small Business Administration has released updated guidance on what constitutes lobbying for 501(c)(6) organizations — which include local and state home builders associations — that seek forgivable loans under the Paycheck Protection Program (PPP).

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IRS Releases Guidance on Claiming Employee Retention Credit with PPP Loan

Filed in Economics, Tax Reform by on March 2, 2021 0 Comments
IRS Releases Guidance on Claiming Employee Retention Credit with PPP Loan

The IRS released guidance this week for taxpayers claiming the employee retention credit for tax year 2020. The IRS plans to release additional guidance in the near future for claims arising during 2021, including changes made to the employee retention credit for 2021.

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A Special 2-Week PPP Window for Companies with Fewer than 20 Employees

Filed in Advocacy, Disaster Response by on February 22, 2021 3 Comments
A Special 2-Week PPP Window for Companies with Fewer than 20 Employees

The Biden administration is establishing a two-week window starting on Wednesday, Feb. 24, in which only businesses with fewer than 20 employees — the overwhelming majority of small businesses — can apply for Paycheck Protection Program (PPP) forgivable loans.

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Small Business Administration and Treasury Release Updated Loan Forgiveness Guidance

Filed in Disaster Response, Economics by on January 20, 2021 3 Comments
Small Business Administration and Treasury Release Updated Loan Forgiveness Guidance

The Small Business Administration (SBA) and U.S. Treasury Department last night released loan forgiveness guidance and forms incorporating changes made by the recently enacted COVID relief legislation, including the much anticipated one-page application for borrowers that received a Paycheck Protection Program (PPP) loan of $150,000 or less.

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