Financial Affairs

Letters signed by AICPA raise concerns over PPP loan necessity questionnaires

The AICPA was among 82 organizations that signed a pair of letters expressing concerns about the new Paycheck Protection Program loan necessity questionnaires, which require PPP borrowers with loans of $ 2 million or more. plus complete a new form and provide complete documentation to support their request for relief funds. In the two letters […]

Financial Affairs

Concord refinances debt: Indie raises $ 600 million for successful, oversubscribed term loan

The new debt and the expanded gun, according to sources, were used to repay some $ 600 million of existing debt in the form of an existing term loan of $ 98 million; and repay $ 502 million of revolving debt contracted before this facility was reduced and amended with new ratios in its financial […]

Financial Affairs

Gusto helps accountants help clients apply for PPP loans to deal with coronavirus

Gusto, a provider of payroll, human resources, benefits, and insurance services to small businesses, has partnered with accountants to help them secure loans for their clients under the Personal Protection Program. payroll to the Small Business Administration so they can weather the economic crisis caused by COVID. -19 pandemic. The company has added more than […]

Financial Affairs

American Airlines promises brand and slots to secure $ 1.2 billion loan

American Airlines has pledged its brand and hard-to-get take-off and landing rights in New York and Washington to secure a $ 1.2 billion loan as it tries to resist the sharp drop in travel due to the coronavirus pandemic. The Fort Worth, Texas-based airline on Thursday announced that it had reached an agreement with the […]

Financial Affairs

Four Common Mistakes That Can Delay Your Aircraft Purchase: Ways To Minimize Headaches – Aviation Finance

You have found the right aircraft for your mission; you have a lender and you are now a few days away from your ultimate goal of landing the plane of your dreams. Out of nowhere you get a phone call from the lender. Last-minute confusion now threatens to block or reverse the deal. What happened? […]

Financial Affairs

What Small Business Owners Need to Know About Paycheck Protection Program Loan Changes

This week, the Treasury and the Small Business Administration released a pardon request form to reflect rule changes. And they also put a “EZ” form for self-employed borrowers who have no employees and for small businesses that have not reduced employee compensation by more than 25% and have not reduced staff size or employee hours. […]

Financial Affairs

PPP borrowers can use gross income, SBA rules

The Small Business Administration (SBA) in the United States has released new Paycheck Protection Program (PPP) rules that allow self-employed workers who complete Form 1040, Schedule C, Business profit or loss, to calculate the maximum loan amount using gross income instead of net profit. The change opens the door to larger loans to the self-employed, […]

Financial Affairs

SBA bottlenecks delaying loan approvals

Bankers and borrowers must be patient with the Small Business Administration as the agency works on a growing backlog of 504 loan applications. Turnaround times that took less than a week before the pandemic can now stretch for weeks, lenders have said. They said the SBA has its work cut out for managing the paycheck […]

Financial Affairs

Pac-12 plans massive loan program to save athletics departments

The Pac-12 is planning a gigantic loan program that would provide an escape hatch for cash-strapped sports departments in the event the football season is canceled due to coronavirus, internal documents and sources show of the conference. Football accounts for the majority of each department’s revenue, generating over $ 50 million in ticket sales and […]

Financial Affairs

UBS revamps student loan and financial wellness benefits

Wealth management giant UBS on Thursday added new benefit offerings aimed at improving employee personal finances, including a partnership with Morningstar and other providers to tackle student loan debt, at retirement and overall financial well-being. The offerings will be added to the existing UBS Workplace Wealth Solutions platform – launched in January – which has […]