FORBES on SBA PPP Loan Forgiveness

Thank you to the AMI for forwarding us this great information from Forbes for our members. The articles are on the PPP Loan Forgiveness math and required documentation and execution: Attachments: F&B Guidance – good summary on Forgiveness – 2 pagesV&J Guidance  - good description of Math for Loan Forgiveness – 5 pagesForbes Article – very in depth – describes 10 key open questions on Forgiveness– 19 pages We have been working intensely to understand the SBA PPP Loan Forgiveness math and associated required documentation, and thinking through all implications for our member’s staffing decisions, given the conflict between the PPP Loan Forgiveness provisions versus the Governor’s NY PAUSE period preventing members from bringing furloughed staff back to work until May 15th, or later. We understand the need to make…
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PPP & EIDL APPLICATION ASSISTANCE: FAQ FROM THE AMI

PPP & EIDL APPLICATION ASSISTANCE: FAQ FROM THE AMI

An AMI member got their PPP loan approved  last Friday April 10th, (7 days after submitting to their local bank on April 3rd),  and closed on the loan this evening.  They Expect funds to be disbursed this week, as early as Wednesday.  So the SBA PPP program seems to be working. Anyone applying for a SBA PPP or EIDL loan needs to read and understand these key documents from the SBA and from Senator Cardin’s office (he was the sponsor of the CARES Act which established these programs.).  > It helped me to to print out and highlight the important parts - I found> that it's too much to digest and remember electronically.> I suggest that anyone reading the attached files start in this priority order:> 1. SBA CARES ACT Sen Cardin...…
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