New Procedures - PPP Loans & Changes in Business Ownership
Henry & Peters, PC CPAs Linda Cooper and Thomas Neuhoff are back with an update on Paycheck Protection Program Loans.
This is an issue we've been following since before it Congress approved the program in March to provide loan funds for businesses across the country as they struggled with the challenges of COVID-19. Congress acted again in June, passing the PPP Flexibility Act to extend the original 8-week provisions to 24 weeks in which businesses could spend their funds on things like payroll, mortgage interest, rent, and utilities.
"What we're looking at now," Thomas says, "is the forgiveness process and how businesses can go about that."
Take a look at the video and stay tuned for more. Don't hesitate to contact Henry & Peters, PC if we can assist you and your business in the future, and log on to henrypeters.com now for a wide variety of helpful resources.