Paycheck Protection Program Loan Application
A COVID-19 Update from Questco
A COVID-19 Update from Questco - April 17, 2020
How to Manage PPP Loan Proceeds
For those of you who have recently received funds through the SBA-sponsored Paycheck Protection Program (PPP), you may be asking yourself, “Now what?” As many of our clients manage through these economically challenging times, your Questco service team wanted to share a few things to consider over the next few weeks. To download, click here.
A COVID-19 Update from Questco - April 7, 2020
Updated Lender Letter: provided for when requests are received for the Form 941 tax report as part of the PPP loan application process. To download, click Here.
A COVID-19 Update from Questco - April 6, 2020
PPP Loan Payroll Calculation Changes
Please be advised that the definitions and regulations surrounding the Payroll Protection Program (PPP) loan program are continuing to evolve. Over the weekend more clarity was provided around the requirements for calculating total payroll costs for purposes of determining the amount of loan the borrower can apply for. Based on this new information, we have determined that, in an effort to be conservative and insure against any push back from your lender, Admin Fees should be excluded from the calculation of total payroll costs.
In order to support this change, a new report has been developed by Questco. Click Here.
A COVID-19 Update from Questco - March 31, 2020
Things are moving fast on the Payroll Protection Program (PPP). The form for filing for a PPP loan has just been released, but applications cannot be submitted until April 3, 2020. Attached is a copy of that form. As we await additional clarification on the application process, we wanted to get this into your hands as soon as possible.
In addition, The Treasury Department has issued two fact sheets on the PPP – one for borrowers and a lender highlights summary.
