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QTD/YTD / $21/$662 Nonaccruing loans 3,188 6,409 Accruing Trouble Debt Restructures 805 ... | November 5, 2021

To embed, copy and paste the code into your website or blog: On December 27, 2020, the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (the “Economic Aid Act”) became law. The economy continues to struggle from the effects of the coronavirus pandemic. This new law provides additional support to many small businesses. So far in the month of January alone, the Treasury Department (the “Treasury”) and the Small Business Administration (SBA) have issued over 200 pages of new interim final rules (the “Interim Rules”) and other written guidance related to modificati...

To embed, copy and paste the code into your website or blog: On December 27, 2020, President Trump signed the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Economic Aid Act) into law to provide continued assistance to individuals and businesses that have been financially impacted by the ongoing coronavirus pandemic. Among its provisions is an extension of the Paycheck Protection Program (PPP) created by the CARES Act, authorizing approximately $284 billion in additional federally backed loans to help small businesses weather economic hardships caused by the pandemic. ...

To embed, copy and paste the code into your website or blog: With the latest round of the Paycheck Protection Program comes a pair of interim final rules from the Small Business Administration. Our Financial Services & Products Group explores the significant changes to the PPP brought by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act. General changes to the PPP and the first interim final rule Second draw loans and the second interim final rule Tax treatment and additional comments The Small Business Administration (SBA), in consultation with the Treasury Department...

Paycheck Protection Program: Who Can Get It, And How It Works With the latest COVID-19 relief package including $284 billion for small business loans under the Paycheck Protection Program (PPP), KHTS has compiled a breakdown of who can apply for these loans, and how they work. As part of the most recent COVID-19 relief package signed at the end of December, $284 billion was allocated for PPP loans, providing much-needed relief to struggling small businesses across the country. Under the PPP, small business owners apply for the loan with a bank, which then either approves or denies that loan. ...