AAFCPAs would like to make clients aware that the deadline to apply for a Paycheck Protection Program (PPP) loan is June 30, 2020. As of June 10, 2020, there was still approximately $130.7 billion in funds available.
AAFCPAs encourages clients who did not receive a PPP loan yet to re-consider applying in light of recent changes to the program introduced as part of the PPP Flexibility Act, signed by President Trump on June 5th, 2020. Most notably, the Act:
Expanded the original 8-week forgiveness period to 24 weeks.
Loosened the 25% limitation on non-payroll expenses.
Removed the 2-year payback period in favor of a minimum 5-year loan period.
AAFCPAs advises clients to evaluate the changes in the program as well as your economic need. If economic need is determined, we advise clients to not delay, as the deadline is approaching, and the funds may run out.
Courtney is an audit & consulting partner in the firm’s Healthcare Practice with extensive experience advising the nation's healthcare safety net community, including Federally Qualified Heath Centers (FQHCs), clinics, and behavioral health providers. She delivers a full range of solutions solving the challenges that AAFCPAs’ healthcare clients face, including: audits in accordance with Uniform Guidance/Single Audit and Government Auditing Standards, 340B pharmacy program requirements, best practices for reconciliation & analysis of statistical and programmatic data, …
0
We use cookies to ensure we give you the best experience on our website. By continuing your visit, you consent to the use of these cookies. See our:
Functional cookies
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
