Lenders can begin submitting applications for Paycheck Protection Program (“PPP”) loan forgiveness on August 10th. The Small Business Administration (“SBA”) provided this update last week in a document outlining procedures for the loan forgiveness process. The notice confirmed the SBA would open a portal specific to loan forgiveness. Only lenders will have access to the… Read More »
Author: Calvin McRae
PPP Loan Forgiveness Portal Opens August 10
SBA EIDL Loans and Unemployment Boost Payments Ending
EIDL Loan Update The Small Business Administration (SBA) stopped processing Economic Injury Disaster Loan (EIDL) Advance requests on July 11th. As of now, the program funds have been fully allocated. By law, the SBA is not permitted to issue new EIDL Advances once all program funding has been obligated. Sunset Date of $600 CARES Unemployment… Read More »
Commissioners Approve $447 Million Continuation Budget
Forsyth County commissioners passed a balanced continuation budget that maintains current service levels and lowers the property tax rate with a commitment to review additional funding requests in November, once the county has a clearer understanding of the overall impact on revenue from the COVID-19 pandemic. Normally requests for additional funding, known as Alternate Service… Read More »
Paycheck Protection Flexibility Act
United States Senators passed the Paycheck Protection Flexibility Act (PPFA) on Wednesday to give small businesses more wiggle room in how they spend federal loan dollars. The funds were given as part of previous CARES Act provisions through the Paycheck Protection Program (PPP), but had several restrictions that made it difficult for some businesses to… Read More »
Proposed County Budget to be Presented to Commissioners
The Manager’s Recommended Budget will be presented to Forsyth County Commissioners Thursday, kicking off a process that will lead to the adoption of the county’s 2020-2021 budget. County Manager Dudley Watts will make his summarized presentation of the proposed budget on Thursday, June 4. The proposed budget will be available for review in the County… Read More »
Phase 2 of Reopening Plan Begins Friday
On Friday at 5:00PM, North Carolina will transition into Phase 2 Governor Cooper’s three-phased plan to incrementally reopen the state’s economy. Key Takeaways of Executive Order 141: The statewide stay-at-home order is lifted. However, vulnerable individuals should still stay home when possible. Masks or other face coverings are recommended for use in all public settings.… Read More »