This content was published prior to the merger of equals between BKD and DHG on June 1, 2022. See all FORsights for the most up-to-date articles, webinars, and videos.
Small Business Administration (SBA) Loan Resources
The U.S. Small Business Administration (SBA) is offering various relief options for small businesses suffering substantial economic injury as a result of COVID-19. We understand this issue is rapidly evolving and will continue updating this page with the latest information available to us. We encourage you to visit the SBA website for additional information or contact your local BKD Trusted Advisor™.
Paycheck Protection Program
Assistance for Small Businesses
The Paycheck Protection Program (PPP) prioritizes millions of Americans employed by small businesses by authorizing up to $659 billion toward job retention and certain other expenses. Small businesses, specific nonprofit organizations, certain tribal businesses and self-employed individuals and independent contractors are eligible if they meet program size standards. The PPP has generated huge interest but also operational challenges and continued questions on eligibility and loan forgiveness.
- The application for borrowers can be found here.
- View the AICPA guidance on the Paycheck Protection Program.
- For best practices on SBA PPP loan documentation, click here.
PPP Related Webinars
- What Businesses & Individuals Need to Know About the Latest COVID-19 Stimulus Bill (Dec 2020)
- Simply Tax Episode 113: AICPA Advocacy Updates: PPP & Beyond (Nov 2020)
- BKD COVID-19 Webinar Series: Paycheck Protection Program – New Developments & Pending Legislation (August 2020)
- Simply Tax Bonus Episode - Simply Uncut: The Latest on PPP Loan Forgiveness (May 2020)
- COVID-19 PPP Loan Forgiveness: What We Know (May 2020)
- Finance Office Hours for Health Centers: Strategies to Manage Operations During COVID-19 – COVID-19: Grant & SBA PPP Loan Thoughts (April 2020)
- Reducing the Impact of COVID-19: An Overview of Business Interruption Claims & Disaster Assistance Loans (April 2020)
- (Encore Presentation) BKD COVID-19 Weekly Webinar Series – SBA Loans, Payroll Tax Credits & General Business Planning Considerations (April 2020)
- BKD COVID-19 Weekly Webinar Series – SBA Loans, Payroll Tax Credits & General Business Planning Considerations (April 2020)
- Simply Tax Episode 93: SBA Loans After the CARES Act (April 2020)
- Small Business & Nonprofit SBA Programs Available with the Impacts of COVID-19 (Mar 2020)
PPP Related Thoughtware Information for Borrowers
- New Law Expands Eligibility for Employee Retention Credit & PPP Loans (March 2021)
- Updated PPP Rules for Sole Proprietors, Contractors, & New Forms Released (March 2021)
- PPP Update & Greater Access for Smallest Businesses Proposed (Feb 2021)
- Recent U.S. Small Business Administration Releases Provide Some Needed Clarity (Jan 2021)
- Revised Paycheck Protection Program Forgiveness Form Released (Jan 2021)
- Simply Tax Episode 116: New Year, New PPP Changes (Jan 2020)
- Paycheck Protection Program Round Two – What You Need to Know (Jan 2020)
- Stimulus Aid for Farmers & Ranchers–Second Chance for PPP Loans & EIDL Grants (Dec 2020)
- Congressional Efforts on Another Stimulus Bill Moving Forward (Dec 2020)
- IRS Guidance on PPP Deductibility (Nov 2020)
- New Questionnaire for Larger PPP Borrowers (Oct 2020)
- New Rules & Forgiveness Form for PPP Loans of $50,000 or Less & Lender Responsibilities (Oct 2020)
- PPP Loan Guidance for Ownership Changes (Oct 2020)
- Paycheck Protection Program Loans & M&A (Sept 2020)
- Important New Details on PPP Loan Forgiveness (August 2020)
- Overview of Tax Provisions in Senate’s Proposed HEALS Act (July 2020)
- PPP Application Deadline Now August 8 – $132 Billion Still Available (July 2020)
- Accounting for Paycheck Protection Loans (June 2020)
- SBA Updates PPP Loan Forgiveness & Loan Review Procedures (June 2020)
- SBA Announces Changes to Paycheck Protection Program (June 2020)
- Department of Education Releases Expanded Guidance (June 2020)
- GASB Proposal Clarifies COVID Accounting (June 2020)
- Congress Passes Paycheck Protection Program (PPP) Fixes (June 2020)
- House & Senate Fixes Underway for the Paycheck Protection Program (May 2020)
- COVID-19 PPP Loan Forgiveness: What We Know (May 2020)
- SBA Loans Structure Analysis: What’s the Right Funding Source for Your Nonprofit? (May 2020)
- SBA Releases PPP Loan Forgiveness Application (May 2020)
- PPP Updates: May 18 Repayment Deadline, Bigger Loans for Partnerships & Seasonal Employers, Electrical Co-Op Eligibility (May 2020)
- Crucial PPP Update Before May 14 Safe Harbor Deadline (May 2020)
- PPP Updates – Rehiring, NFP Hospital Eligibility, Safe Harbor Deadline Extension & Bank LCR Relief (May 2020)
- PPP Loan Eligibility for Higher Education (May 2020)
- Frequently Asked Questions: ESOPs & PPP Loans (May 2020)
- COVID-19 Government Programs & Eligibility for Hedge Funds & Private Equity Funds (May 2020)
- PPP Updates – Restrictions, Eligibility, Loan Amount Calculations & Penalty-Free Repayment Option (April 2020)
- SBA PPP Rules & FAQ (April 2020)
- SBA Issues Second FAQ on PPP (April 2020)
- SBA Releases Details on Paycheck Protection Program (April 2020)
PPP Related Thoughtware Information for Lenders
- New Rules & Forgiveness Form for PPP Loans of $50,000 or Less & Lender Responsibilities (Oct 2020)
- PPP Update – Forgiveness Details & Lender Guidance (August 2020)
- Lender’s PPP First Monthly Form 1502 Deadline Now July 17 (July 2020)
- New Guidance for Banks – PPP Loans & Restructurings (July 2020)
- SBA Issues Disbursement Rules for Financial Institutions (April 2020)
- PPP Liquidity Facility Details Released (April 2020)
- Banking Organizations Get Capital Relief on Paycheck Protection Loans (April 2020)
SBA Documents
- COVID-19 SBA Disaster Assistance Resources for Businesses – 508
- Three Step Process SBA Disaster Loans
- SBA Form 159D – Fee Disclosure Form and Compensation Agreement
- SBA Form 2202 – Schedule of Liabilities
- SBA Form 413D – Personal Financial Statement
- SBA - Document Delivery Options Disaster Loan Application
- SBA Form 1368 – Additional Filing Requirements
- SBA - Disaster Loan Application
- SBA Form 2202 – Instructions for Schedule of Liabilities
- IRS Form 4506-T
- SBA Form 5 – Loan Application
SBA State Fact Sheets
- Arkansas Fact Sheet
- Colorado Fact Sheet
- Illinois Fact Sheet
- Indiana Fact Sheet
- Iowa Fact Sheet
- Kansas Fact Sheet
- Kentucky Fact Sheet
- Mississippi Fact Sheet
- Missouri Fact Sheet
- Nebraska Fact Sheet
- New York Fact Sheet
- Ohio Fact Sheet
- Oklahoma Fact Sheet
- Pennsylvania Fact Sheet
- Tennessee Fact Sheet
- Texas Fact Sheet
- Utah Fact Sheet
- Wisconsin Fact Sheet
