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Nonprofits, businesses receiving PPP could face surprise audits

Nonprofit and for-profit organizations that received Paycheck Protection Program loans could unexpectedly find themselves confronting the “single audit” requirement for the first time, even though PPP loans are supposedly exempt.

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SBA offers guidance on aid to shuttered entertainment venues

The Small Business Administration issued some preliminary guidance on how a new federal program to provide help to hard-hit playhouses, movie theaters, museums and other venues will work.

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Rural states get larger share of latest PPP loans

Small businesses in Nebraska, Oklahoma and other rural states have been the most successful at getting federal pandemic relief in the $284 billion round of aid that opened this month, buoyed by a new rule that authorizes loans to many ...

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SBA releases streamlined PPP forgiveness forms

The U.S. Small Business Administration released a one-page form aimed at simplifying the process of applying for forgiveness of Paycheck Protection Program loans, along with newly revised and updated forms to meet the requirements of the latest stimulus legislation.

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SBA and Treasury reopen Paycheck Protection Program

The U.S. Small Business Administration and the Treasury Department relaunched the Paycheck Protection Program on Monday to new borrowers, prioritizing loans from community lenders.

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Small businesses hired slightly more in September, says Paychex

Small-business employment and hours worked grew a bit in September, especially in the Northeast and within the construction industry, according to the latest monthly report from payroll giant Paychex.

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IRS says lenders don’t need to report PPP loan forgiveness

The Internal Revenue Service said Tuesday that lenders who make Paycheck Protection Program loans that are later forgiven under the CARES Act should not file information returns or furnish payee statements to report the forgiveness.

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Loan fraud, data shortfalls hinder U.S. virus aid, GAO finds

But the federal government has been able to correct some of its earlier missteps, like sending millions of stimulus checks to the deceased, according to the Government Accountability Office.

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