Do Realtors Qualify For Ppp

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Are Realtors Eligible For Ppp Global Real Estate

Are Globalreal-estate.net More results

Just Now Do 1099 realtors qualify for the “PPP” government program. Just Now Biggerpockets.com Get All . $100 Seems like 1099 independent contractors will just fill out the same application as the small businesses. And under payroll, will just average their 2019 monthly x2.5, excluding anything over $100k annualized.

Link: https://globalreal-estate.net/are-realtors-eligible-for-ppp/

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Do 1099 realtors qualify for the “PPP” government program

Qualify Biggerpockets.com More results

Just Now Seems like 1099 independent contractors will just fill out the same application as the small businesses. And under payroll, will just average their 2019 monthly x2.5, excluding anything over $100k annualized. So the max monthly would be $8,333.33= max application $20,833.32.

Link: https://www.biggerpockets.com/forums/519/topics/822470-do-1099-realtors-qualify-for-the-ppp-government-program

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Real estate brokers: Can you qualify for a PPP loan? And

Real Rejournals.com More results

2 hours ago Here’s the simplified three-step process: Go to your Schedule C (Form 1040) and find your net profit on line 31. Because the cap limit is $100,000, if your net profit is over that, you have to

Link: https://rejournals.com/real-estate-brokers-can-you-qualify-for-a-ppp-loan-and-how-much-can-you-borrow/

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Real estate companies and the PPP: Revisit your

Real Plantemoran.com More results

5 hours ago Do you feel that your real estate company meets the certification requirements? If not, you’re allowed a safe harbor if you return the loan funds by May 14, 2020. A few other points of guidance: Although the SBA has been making loans for years, the PPP is a special program under the CARES Act.

Link: https://www.plantemoran.com/explore-our-thinking/insight/2020/05/real-estate-companies-and-the-ppp-revisit-your-certification

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Are Real Estate Businesses Eligible to Participate in the

Are Anchin.com More results

6 hours ago Real estate management companies are not considered passive and are therefore eligible for PPP. It isn’t possible to understand if the intention of the Treasury was to exclude the types of real estate firms described below, or if they simply hadn’t considered that many of these firms do have employees.

Link: https://www.anchin.com/news/anchin-alert-are-real-estate-businesses-eligible-to-participate-in-the-paycheck-protection-program-ppp-loans

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Two Winning Paths to a PPP Loan Realtor Magazine

Two Magazine.realtor More results

Just Now Still, quipped managing broker Charles Hinckley, CRS, GRI, who deposited his $7,400 check last Friday, “It felt like winning the lottery.” Hinckley and his wife Toshie Murrell, who together operate Network Realty in rural Radcliff, Ky., received the full $7,400 loan they sought through the PPP, as well as a $18,500 loan that he received by direct deposit for a separate dog day care

Link: https://magazine.realtor/news-and-commentary/feature/article/2020/04/two-winning-paths-to-a-ppp-loan

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SBA Rules Carve Out Passive Real Estate Activities From

SBA Moritthock.com More results

5 hours ago Many real estate businesses are organized as limited liability companies taxed as partnerships. An open issue remains whether partner compensation including guaranteed payments qualify as payroll for the purposes of the PPP. Neither the new rules nor the final new application speak to this issue..

Link: https://www.moritthock.com/wp-content/uploads/2020/04/Real-Estate-Alert.pdf

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Sorry, You’re Not Eligible For PPP Money deBanked

Not Debanked.com More results

8 hours ago The rush to submit your PPP application may be for naught if you own an ineligible business. The SBA prohibits loan guarantees to “businesses primarily engaged in lending, investments, or to an otherwise eligible business engaged in financing or factoring.” If there’s any confusion as to what that includes, the SBA lists 7 specific ineligible […]

Link: https://debanked.com/2020/04/sorry-youre-not-eligible-for-ppp-money/

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Realtors® eligible to apply for benefits under the

Apply Marcovid19.com More results

3 hours ago Today Realtors® became eligible to apply for benefits under the Paycheck Protection Program (PPP). This was one of three programs included in the CARES Act designed to extend benefits to independent contractors, sole proprietors, and small businesses in order to help mitigate the economic impacts of COVID-19. In addition, the Massachusetts Department of Unemployment Assistance announced that

Link: https://www.marcovid19.com/post/realtors-eligible-to-apply-for-benefits-under-the-paycheck-protection-program-ppp

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Do I Qualify for the PPP Loan? Bench Accounting

Qualify Bench.co More results

Just Now Additional PPP requirements by entity type Independent contractors. If the PPP loan application for independent contractors is unchanged for 2021, you will need a tax-ready 2019 or 2020 Schedule C from your personal Form 1040 tax return. While it does not have to be filed, it must be complete and accurate.

Link: https://bench.co/blog/operations/qualify-ppp-loan/

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What's Considered "Rent" for the PPP? Bench Accounting

For Bench.co More results

6 hours ago We take a closer look at eligible rent expenses for the PPP. The CARES Act is the official piece of legislation that created the Paycheck Protection Program. The Act defines rent as “rent obligated under a leasing agreement in force before February 15, 2020”. The Treasury also notes that self-employed individuals claiming a rent expense

Link: https://bench.co/blog/operations/rent-for-ppp/

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Update for Realtors · Kerkering, Barberio & Co., Certified

Update Kbgrp.com More results

9 hours ago They may qualify for loan forgiveness, they are guaranteed by the government and payments are deferred. There is no personal guarantee and no collateral is required. Businesses with less than 500 employees all qualify for the PPP loans. This includes real estate brokers and agents.

Link: https://www.kbgrp.com/timely-opportunities/update-for-real-estate-brokers-and-agents.html

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SBA Rules Carve Out Passive Real Estate Activities From

SBA Jdsupra.com More results

Just Now The Interim Final Rule issued late last week by the SBA limits the availability of PPP loans to businesses engaged in certain activities. Among them are passive landlords and developers.

Link: https://www.jdsupra.com/legalnews/sba-rules-carve-out-passive-real-estate-79306/

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Can Real Estate Agents Apply For Ppp Loans

Can Therealestate24.com More results

1 hours ago Can real estate agents get PPP loans? (important changes . Estate Womply.com Related Item . 2 hours ago Can real estate agents apply for PPP loans?Depending on your employment status you may be able to apply to receive a PPP loan as a realtor or real estate agent.Most real estate agents are classified as independent contractors and receive a 1099-Misc for …

Link: https://therealestate24.com/can-real-estate-agents-apply-for-ppp-loans/

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Key Considerations for Real Estate Entities on PPP Loan

Key Anchin.com More results

Just Now Key Considerations for Real Estate Entities on PPP Loan Ineligibility. The rush to submit a Paycheck Protection Program (PPP) application has raised concerns as many ineligible companies have been "outed" for improperly accepting PPP funds. As you may recall from our Anchin Alert sent on April 6, 2020, the SBA issued interim rules clarifying

Link: https://www.anchin.com/news/anchin-alert-key-considerations-for-real-estate-entities-on-ppp-loan-ineligibility

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Are Coops and Condo Eligible for the PPP Loan? (2020

Are Hauseit.com More results

Just Now Yes, though we strongly advise against doing so until there is more clarity from the SBA or Congress. Based on the Interim Final Rules and the new application form the SBA released on April 2, 2020, there is a conflict between what the SBA says and what the CARES Act says. For example, the SBA states in the Interim Final Rules that in order to be eligible for a PPP loan, the applicant must be

Link: https://www.hauseit.com/are-coops-and-condo-eligible-for-the-ppp-loan/

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How a Real Estate Agent Used Fundbox to Secure a PPP Loan

How Fundbox.com More results

6 hours ago This case study shows how a real estate business in Texas, that was impacted by the coronavirus/COVID-19 pandemic and mandated shelter-in-place, was able to get a Paycheck Protection Program (PPP) loan through Fundbox to help their small business. As of December 27, 2020, Congress has approved additional funds for the PPP.

Link: https://fundbox.com/blog/real-estate-ppp-loan/

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Real Estate Companies PPP The Real Deal

Real Therealdeal.com More results

9 hours ago Real estate companies received about $10.7 billion in loans approved through the federal program, or about 3 percent of the $342 billion allocated through the first round. Nearly 80,000 real

Link: https://therealdeal.com/2020/04/27/heres-how-real-estate-companies-qualify-as-small-businesses-for-ppp-loans/

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PPP Loan for Real Estate Investing BiggerPockets

PPP Biggerpockets.com More results

8 hours ago Receive a free digital download of The Ultimate Beginner's Guide to Real Estate Investing. Connect with 1,000,000+ real estate investors! Find local real estate meetups and events in your area. Start analyzing real estate properties, we do the math for you.

Link: https://www.biggerpockets.com/forums/12/topics/842800-ppp-loan-for-real-estate-investing

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How the CARES Act Can Help Agents and Brokers Zillow

How Zillow.com More results

7 hours ago The law extends the deadline to apply for the federal government’s loan-based relief program, from June 30 to August 8, 2020. Update, May 21, 2020: The Small Business Administration has released the loan forgiveness application and instructions for the Paycheck Protection Program (PPP).

Link: https://www.zillow.com/agent-resources/blog/cares-act-for-brokers-and-agents/

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The Latest Information on Coronavirus for Realtors in

The Floridarealtors.org More results

2 hours ago Click here for important information and advice — specific to Realtors — to get you started. To apply, click here. Federal family and sick leave changes: Congress passed the Families First Coronavirus Response Act, H.R. 6201. Here are the major provisions affecting Realtors, brokers and real estate associations/boards.

Link: https://www.floridarealtors.org/news-media/news-articles/2020/03/latest-information-coronavirus-realtors-florida

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As of March 3, 2021

March Sba.gov More results

2 hours ago affiliation exclusions apply to the PPP, including, for example the exclusions under 13 CFR 121.103(b)(2). 6. Question: The affiliation rule based on ownership (13 C.F.R. 121.301(f)(1)) states that SBA will deem a minority shareholder in a business to control the business if the

Link: https://www.sba.gov/sites/default/files/2021-03/PPPFAQs%203.2.21-508.pdf

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Here’s how real estate companies qualify as “small

How Globalpropertyinc.com More results

5 hours ago The SBA sets a limit of $8 million in annual receipts, for example, for real estate agent and broker offices, mortgage brokers and appraisers’ offices to qualify as small businesses. By point of comparison, Douglas Elliman — which did not seek PPP money — saw revenues of $784 million last year.

Link: https://globalpropertyinc.com/2020/04/27/heres-how-real-estate-companies-qualify-as-small-businesses-for-ppp-loans/

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How the Stimulus Package Helps Real Estate Agents – The

How Thepaperlessagent.com More results

3 hours ago Refer to www.sba.gov for full program details and coverage. As real estate agents, we are exactly who these legislations were designed to help. So whatever you do, make sure you are applying for these stimulus packages and make sure a professional is helping you so you can make sure you are doing this right and getting the most out of it.

Link: https://thepaperlessagent.com/how-the-stimulus-package-helps-real-estate/

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Guidance for PPP Loan Recipients on Use of Funds for

For Calfee.com More results

8 hours ago Forgiveness of PPP Loans and Certain Costs Associated With Real Estate. In addition to “Payroll Costs,” PPP loans may be used for “Other Qualifying Costs,” which include rent payments, utility payments (electricity, gas and water) and mortgage interest payments incurred in the ordinary course of business by the borrower (but not

Link: https://www.calfee.com/newsletters-272

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ThirdRound Paycheck Protection Program (PPP)

Program Investopedia.com More results

3 hours ago Beginning Wed., Feb. 24, 2021 through Tue. March 9, 2021, businesses with fewer than 20 employees were permitted to apply for PPP funding. The formula used to calculate PPP loans was revised to

Link: https://www.investopedia.com/your-guide-to-the-paycheck-protection-program-ppp-and-how-to-apply-4802195

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Licensed Real Estate Agents Real Estate Tax Tips

Real Irs.gov More results

Just Now Licensed real estate agents are statutory nonemployees and are treated as self-employed for all Federal tax purposes, including income and employment taxes, if: Substantially all payments for their services as real estate agents are directly related to sales or …

Link: https://www.irs.gov/businesses/small-businesses-self-employed/licensed-real-estate-agents-real-estate-tax-tips

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SBA Loans for Agents Coronavirus

SBA Carcovidupdates.org More results

3 hours ago Businesses with fewer than 500 employees — including sole proprietors, independent contractors, and other self-employed individuals — all qualify for initial PPP loans. Since most real estate agents are independent contractors, they are likely to qualify for initial PPP loans.

Link: https://www.carcovidupdates.org/relief-faq-for-agents

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Many Landlords Are Requiring Tenants to Get PPP Funding

Many Globest.com More results

2 hours ago Many landlords are requiring tenants apply for PPP loans to receive rent relief. “Real estate is so dependent on the liquidity in the credit markets, so anything that is done to prop-up the

Link: https://www.globest.com/2020/04/14/many-landlords-are-requiring-ppp-funding-for-rent-relief/

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CALIFORNIA ASSOCIATION OF REALTORS C.A.R. Coronavirus

Many Carcovidupdates.org More results

2 hours ago Borrowers can potentially get 100% of their PPP loan forgiven, which means the loan will become a grant and will not need to be repaid. Sole proprietors, independent contractors, and other self-employed individuals all qualify for PPP loans. Most real estate brokers and real estate firms are therefore likely to qualify.

Link: https://www.carcovidupdates.org/

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What Is Purchase Power Parity? The Balance

What Thebalance.com More results

8 hours ago Purchase power parity (PPP) is a method of accounting for differences in the cost of living when comparing national economies. One way to understand PPP is to study the Big Mac Index, which compares the price of a McDonald's Big Mac in 55 countries. PPP is a good tool for comparing GDP and relative economic size among nations.

Link: https://www.thebalance.com/purchasing-power-parity-3305953

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New Paycheck Protection Program (PPP) Loans: How to

New Score.org More results

4 hours ago From 3508S is a simplified form that previously was available for loans of $50,000 or less. Now it covers loans of $150,000 or less. It requires the borrower to: Describe the number of employees retained due to the PPP loan, The estimated amount of the loan proceeds spent on payroll, and. The total amount of the loan.

Link: https://www.score.org/resource/new-paycheck-protection-program-ppp-loans-how-qualify-and-apply

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Considerations for Approvals of PPP and EIDL SBA Loans by

For Frostbrowntodd.com More results

5 hours ago The eligible purposes do not include the payment of principal on existing debt, so an existing lender cannot require the borrower to apply PPP proceeds to payments or prepayments of principal. EIDL Loans. The EIDL loan program existed prior the COVID-19 pandemic and is designed to help companies affected by federal emergencies.

Link: https://frostbrowntodd.com/considerations-for-approvals-of-ppp-and-eidl-sba-loans-by-existing-commercial-real-estate-lenders/

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A Quarter Of PPP Funding Went To Real Estate, Retail And

Quarter Bisnow.com More results

5 hours ago A Quarter Of PPP Funding Went To Real Estate, Retail And Construction. Before the $350B Paycheck Protection Program ran out of money on Thursday, real estate, retail and construction businesses

Link: https://www.bisnow.com/national/news/capital-markets/real-estate-retail-and-construction-bag-25-of-ppp-money-before-program-ran-out-of-gas-103953

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Public Private Partnerships in Real Estate

Public Restatexcityscaperiyadh.com More results

3 hours ago What is a PPP? •Contractual agreement between the public and the private sectors •Private operator/investor commits to provide public services that have traditionally been financed by public institutions. •The ultimate goal of PPPs is to obtain more “value for money” Core Principles of PPP •Risk allocation between the two parties.

Link: https://www.restatexcityscaperiyadh.com/content/dam/Informa/cityscaperiyadh/english/conference/download-centre/AEC17RCS-SL-KPMG-Public-Private-Partnership-in-Real-Estate.pdf

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PPP Loans for 1099 Independent Contractors

PPP Sba.com More results

4 hours ago The Paycheck Protection Program (PPP) allows lenders to offer low-interest loans that may be 100% forgiven in certain circumstances. Independent contractors and self-employed individuals that have been adversely impacted by the COVID-19 pandemic have been eligible to apply for these loans since April 10, 2020. The requirements are straightforward.

Link: https://www.sba.com/funding-a-business/government-small-business-loans/PPP/1099-independent-contractors/

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Only 7 Percent of Small Businesses in Puerto Rico Received

Only Theweeklyjournal.com More results

4 hours ago A lucky 2,856 small businesses in Puerto Rico received PPP approvals, totaling more than $658.57 million in forgivable loans, as of April 16, when the assigned PPP money ran out, according to the U.S. Small Business Administration’s (SBA) Paycheck Protection Program report.

Link: https://www.theweeklyjournal.com/business/only-7-percent-of-small-businesses-in-puerto-rico-received-approvals-for-ppp-funds/article_347fa6f2-84bf-11ea-ba60-7710c25646fd.html

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LEGAL CORNER: The Latest on the PPP Real Estate in Depth

LEGAL Realestateindepth.com More results

5 hours ago Independent contractors must apply for a PPP loan on their own. In order to qualify for the loan, applicants are required to provide the following documentation to the lender: (1) payroll processor records; (2) payroll tax filings; (3) 1099- MISC Forms, and/or (4) income and expenses from a sole proprietorship.

Link: http://www.realestateindepth.com/legal-advocacy/legal-corner-the-latest-on-the-ppp-loan-and-pua-programs-for-small-businesses-sole-proprietorships-and-independent-contractors/

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EXPLANATION OF PRIVATE PLACEMENT PROGRAMS

PRIVATE Worldvantage.yolasite.com More results

6 hours ago THE BASIC REASONS FOR PPP’S MONEY CREATION First and foremost, PPP’s exist to “create” money. Money is created by creating debt. For example: You as an individual can agree to loan $100 to a friend, with the understanding that the interest for the loan will be 10%, resulting in a total to be repaid of $110. What you have

Link: http://www.worldvantage.yolasite.com/resources/What%20Is%20PPP.pdf

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Revenue is drying up for real estate firms. How the PPP

Revenue Bizjournals.com More results

8 hours ago The federal #coronavirus relief package includes handful of measures that could help real estate firms and agents. Don't do these things if you want to qualify for PPP .

Link: https://www.bizjournals.com/albany/news/2020/04/10/real-estate-brokerages-paycheck-protection.html

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Possible Changes for PPP Louisiana REALTORS

Changes Larealtors.org More results

3 hours ago Extends the PPP program through the end of this year. The application deadline remains June 30, 2020. Increases the amount of time borrowers have to use their loans from 8 to 24-weeks (borrowers who use it in 8 will not be penalized). Decreases the mandatory payroll amount of the loan from 75% to 60%. Extends the forbearance period for a PPP

Link: https://www.larealtors.org/publications/2020/6/1/possible-changes-for-ppp

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PPP Loan for Real Estate Agent YouTube

PPP Youtube.com More results

3 hours ago This is about my timeline for the Paycheck Protection Program or SBA PPP Loan and how I was able to successfully get it. I will share the problems I had doin

Link: https://www.youtube.com/watch?v=nEO3Sk4V1V8

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Terms, conditions, and eligibility

And Sba.gov More results

1 hours ago The maximum rate for SBA Express and Export Express loans is Prime + 6.5 for loans of $50,000 or less. For loans of over $50,000, it is Prime + 4.5. The interest rates for fixed rate loans are as follows: 6.0% (600 basis points) plus the 2.0% (200 basis points) permitted by 13 CFR 120.215.

Link: https://www.sba.gov/partners/lenders/7a-loan-program/terms-conditions-eligibility

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What You Should Be Doing Now to Get Ready for New Round of

What Candysdirt.com More results

Just Now But for the most part, real estate professionals qualify for SBA coronavirus relief programs if their business has been negatively impacted by COVID-19, especially if they’ve been prohibited from hosting open houses, had listings canceled, or can show a significant decrease in pay. Step two — Find a lender.

Link: https://candysdirt.com/2020/04/22/what-you-should-be-doing-now-to-get-ready-for-new-round-of-ppp-loan-funding/

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COVID19 Resources and Updates Virginia REALTORS®

And Virginiarealtors.org More results

1 hours ago Businesses that received a PPP loan earlier this year are eligible to apply for a second loan. Loans are capped at $2 million for this round ($10 million total for both rounds of the program). If your business receives a loan of $150,000 or less, you can submit a one-page forgiveness form to certify that you have complied with the PPP rules.

Link: https://virginiarealtors.org/coronavirus/

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Frequently Asked Questions

Can a real estate company get a PPP loan?

Real estate companies that successfully obtained one of the 1.6 million Paycheck Protection Program (PPP) loans through the first round of the CARES Act funding have raised some questions and concerns following later guidance from the Small Business Administration (SBA).

Who is excluded from the PPP loan program?

Businesses that are primarily engaged in owning or purchasing real estate and leasing it for any purpose As a result, landlords and real estate investors appear to be excluded from the PPP Loan Program and possibly other SBA programs as well.

What should I know about PPP agent fees?

This article examines three recently filed class actions, analyzes other litigation concerning the CARES Act, and provides guidance to PPP agents on how to protect their rights and receive their fees.

What should the interest rate be on a PPP loan?

As such, in the event that an existing lender approves the obtaining of a PPP loan, such lender should consider underwriting all or part of the PPP loan based on the assumption that it may become a 2-year loan with an interest rate of 1.0%.

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