Knoxville-based and East Tennessee-based businesses, unlike other business communities in the country, are struggling to find clear pathways to understanding the various federal relief programs. Small business owners and entrepreneurs have sporadic access to vetted and researched information. More alarmingly, larger small businesses having mature relationships with legal, financing, and banking service professionals, still find themselves being misinformed and misled — not every professional is up to date on the CARES Act and the continual guidance that is released, almost on a daily and or weekly basis.
Guidance (15 items)
- What certifications need to be made for PPP?
- What happens if PPP loan funds are misused?
- How can PPP loans be used?
- What forms do I need and how do I submit an application?
- Do independent contractors count as employees for purposes of PPP loan forgiveness?
- Can my PPP loan be forgiven in whole or in part?
- When will I have to begin paying principal and interest on my PPP loan?
- Is the PPP ‘‘first-come, first-served?’’
- Can I use e-signatures or e-consents if a borrower has multiple owners?
- Can I apply for more than one PPP loan?
- What will be the maturity date on a PPP loan?
- What is the interest rate on a PPP loan?
- Do independent contractors count as employees for purposes of PPP loan calculations?
- Is there anything that is expressly excluded from the definition of "payroll costs" for the PPP?
- What qualifies as ‘‘payroll costs’’ for PPP?
SBA Documentation (8 items)
- SBA Guidance Lookup
- April 28, 2020 PPP Interim Final Rule, Seasonal Employers
- April 27, 2020 Guidance Memo, XML File Submission Process for Paycheck Protection Program
- April 24, 2020 PPP Interim Final Rule, Promissory Notes, Authorizations, Affiliation, and Eligibility
- April 14, 2020 PPP Interim Final Rule, Additional Eligibility Criteria and Requirements for Certain Pledges of Loans
- April 3, 2020 Privacy Impact Assessments
- April 3, 2020 PPP Interim Final Rule
- April 3, 2020 PPP Affiliation Interim Final Rule