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Gross Mendelsohn Blog

A resource to help business owners, nonprofit executives and high net worth families preserve wealth, grow and thrive.

Ernie Paszkiewicz

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Construction & Real Estate  |  Government Contractors  |  Healthcare  |  Manufacturing & Distribution  |  Nonprofit  |  Service Businesses

PPP2 Loans: What to Know About Round 2 of the Paycheck Protection Program

At the end of 2020, Congress passed and President Trump signed a new law that provides for additional relief related to the COVID-19 pandemic. The Consolidated Appropriations Act, 2021 (CAA, 2021) includes a second draw of Paycheck Protection Program loans (PPP2 loans) and it also finally overruled the IRS and allows businesses to deduct ordinary and necessary expenses paid from the proceeds of PPP loans. Let’s take a look at who’s eligible for a PPP2 loan, the terms of the loans and when to apply.

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Construction & Real Estate  |  Government Contractors  |  Healthcare  |  High Net Worth Families  |  Manufacturing & Distribution  |  Nonprofit  |  Service Businesses

8 Key Highlights of the New Stimulus Bill

President Trump signed the bill into law on December 27, 2020. Well, it’s hot off the press and it’s 5,593 pages long. It’s impossible to cover everything in the latest COVID-19 relief bill - called the Consolidated Appropriations Act, 2021 - so we are concentrating on Divisions M & N of the bill involving updates to the CARES Act. Let’s look at the highlights.

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Construction & Real Estate  |  Government Contractors  |  Healthcare  |  Manufacturing & Distribution  |  Nonprofit  |  Service Businesses

Small Business Administration Releases New Forms for Paycheck Protection Program Loans Exceeding $2 Million

The Small Business Administration (SBA) released new required forms for Paycheck Protection Program (PPP) loan recipients with loans exceeding $2 million. These forms will help the SBA confirm “necessity” of loaned funds, of which the agency has already announced that PPP loans exceeding $2 million will be audited.

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Nonprofit

How to Fundraise During a Global Pandemic

The best fundraising tip for nonprofits during a global pandemic? Don’t stop asking for support. “There may be some hesitancy to ask and that's understandable,” said nonprofit fundraising expert, Vince Connelly, “But bottom line, the only way you're really going to raise money is if you ask for it.”

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Construction & Real Estate  |  Government Contractors  |  Healthcare  |  Manufacturing & Distribution  |  Nonprofit  |  Service Businesses

Paycheck Protection Program Application Period Extended

The application period for the Paycheck Protection Program closed on August 8, 2020. Learn more about how to get your PPP loan forgiven here. The application period for the Paycheck Protection Program (PPP) has been extended until August 8, 2020. This gives businesses additional time to claim the remaining $130 billion in PPP loan funds that are still available.

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Construction & Real Estate  |  Government Contractors  |  Healthcare  |  Manufacturing & Distribution  |  Nonprofit  |  Service Businesses

New and Revised Paycheck Protection Program Loan Forgiveness Applications Released

The Small Business Administration (SBA) has released a revised loan forgiveness application for the Paycheck Protection Program (PPP) and a brand new EZ loan forgiveness application.

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