Tag Archive for: PPP

PNC Survey Shows Alabama Business Owners Look to Vaccine-Driven Recovery

Small and mid-sized business owners in Alabama strongly support vaccination for COVID-19 and plan to encourage their employees to get the shots in an effort to boost local economic recovery, according to the PNC Alabama small business owners survey released today. More than half (57 percent) of Alabama businesses surveyed will require employees to get […]

SBA and Lenders Take More Steps to Improve Paycheck Protection Program

Loan data shows 1.3 million loans and significant increase to underserved entrepreneurs

60,000 Paycheck Protection Program Loans Approved in First Week

Today, the U.S. Small Business Administration announced that it has approved approximately 60,000 PPP loan applications submitted by nearly 3,000 lenders, for more than $5 billion, between the program’s re-opening Jan. 11 and last Sunday. Last week, the PPP provided dedicated access to community financial institutions that specialize in serving underserved communities, including minority- women-, […]

Loan Forgiveness FAQs by SBA Answer Some Questions, but Others Remain

The Small Business Administration and the Department of Treasury recently issued a set of Frequently Asked Questions about Paycheck Protection Program loan forgiveness. Below is a summary of the key information from the released FAQs: The FAQs clarified that C-corporation owner-employee health and retirement benefits are eligible PPP expenses in addition to their $100,000 salary cap. Eligible […]