Tuesday, September 26, 2023
OANDP-L
  • Login
No Result
View All Result
The O&P EDGE
  • PECOS
  • Magazine
    • Subscription
    • Current Issue
    • Issue Archive
    • News Archive
    • Product & Service Directory
    • Advertising Information
    • EDGE Flipbooks
  • O&P Jobs
    • Find a Job
    • Post a Job
  • EDGE Advantage
    • EA Homepage
    • EA Data
  • O&P Facilities
  • Resources
    • Product & Service Directory
    • Calendar
    • Contact
    • About Us
    • O&P Library
    • The Guide
    • Custom Publications
    • Advertising Information
    • EDGE Direct
    • Amplitude Media Group
  • PECOS
  • Magazine
    • Subscription
    • Current Issue
    • Issue Archive
    • News Archive
    • Product & Service Directory
    • Advertising Information
    • EDGE Flipbooks
  • O&P Jobs
    • Find a Job
    • Post a Job
  • EDGE Advantage
    • EA Homepage
    • EA Data
  • O&P Facilities
  • Resources
    • Product & Service Directory
    • Calendar
    • Contact
    • About Us
    • O&P Library
    • The Guide
    • Custom Publications
    • Advertising Information
    • EDGE Direct
    • Amplitude Media Group
No Result
View All Result
The O&P EDGE Magazine
No Result
View All Result
Home News

Businesses Get More Flexibility on PPP Loans

by The O&P EDGE
January 2, 2022
in News
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

The American Orthotic and Prosthetic Association (AOPA) issued a release outlining recent changes to the Paycheck Protection Program (PPP) as follows:

Congress finalized legislation this week to ensure that businesses that received a forgivable loan through the PPP can have more leeway on how to spend those funds.

Under the newly passed Paycheck Protection Program Flexibility Act of 2020, small businesses would have to spend 60 percent of the loan money on payroll compared to 75 percent as outlined in the original law.

In addition, current PPP borrowers can choose to extend the eight-week period of the disbursement to 24 weeks, or they can keep the original eight-week period if their business has sufficiently recovered. New PPP borrowers will have a 24-week covered period, but the covered period can’t extend beyond December 31, 2020. Borrowers can use the 24-week period to restore their workforce levels and wages to the pre-pandemic levels required for full forgiveness. This must be done by December 31, 2020, a change from the previous deadline of June 30.

The bill includes two exceptions allowing borrowers to reach full PPP loan forgiveness even if they aren’t able to fully restore their workforce. Previous guidance already allowed borrowers to exclude from those calculations employees who turned down good faith offers to be rehired at the same hours and wages as before the pandemic. The new bill allows borrowers to adjust because they could not find qualified employees or were unable to restore business operations to February 15, 2020, levels due to COVID-19 related operating restrictions.

Finally, the bill extends a June 30, deadline to rehire workers, pushes back the timeline for repaying loans, and allows companies that get loan forgiveness to defer payroll taxes.

For questions, contact Justin Beland, director of government affairs for AOPA, at [email protected], and keep checking AOPA’s website for more updates.

Related posts:

  1. Will Outsourcing Payroll Make Your Life Easier?
  2. COVID-19 Legislative and Regulatory Updates
  3. SBA Releases PPP Loan Forgiveness Application
  4. O&P Growth in Uncharted Territory
Previous Post

Financial Difficulty Affects Amputees’ Health and Well-being

Next Post

NAAOP Update: COVID-19, Race Relations, O&P Policy Agenda

Next Post

NAAOP Update: COVID-19, Race Relations, O&P Policy Agenda

  • VIEW CURRENT ISSUE
  • SUBSCRIBE FOR FREE

RECENT NEWS

News

Women With Limb Loss Cite Prosthetist Relationships in Needs Survey

by The O&P EDGE
September 21, 2023

Noting the critical gap in knowledge of evidence-based healthcare practices aimed at women with limb loss, a research team developed...

Read more

Ottobock Opens Production Center in Bulgaria

SBA Opens 2024 Small Business Award Nominations

ABC Accepting O&P Student Scholarship Applications

Get unlimited access!

Join EDGE ADVANTAGE and unlock The O&P EDGE's vast library of archived content.
SUBSCRIBE TODAY

O&P JOBS

Eastern

Full Time Certified Ped Orthotist

Eastern

CO/Certified Orthotist

Eastern

Customer Service Representative

 

© 2023 The O&P EDGE

  • About
  • Advertise
  • Contact
  • EDGE Advantage
  • OANDP-L
  • Subscribe

CONTACT US

866-613-0257

[email protected]

201 E. 4th St
Loveland, CO 80537

The most important industry news and events delivered directly to your inbox every week.

  • About
  • Advertise
  • Contact
  • EDGE Advantage
  • OANDP-L
  • Subscribe

© 2023 The O&P EDGE

No Result
View All Result
  • PECOS
  • MAGAZINE
    • SUBSCRIBE
    • CURRENT ISSUE
    • ISSUE ARCHIVE
    • NEWS ARCHIVE
    • PRODUCTS & SERVICES DIRECTORY
    • ADVERTISING INFORMATION
  • O&P JOBS
    • FIND A JOB
    • POST A JOB
  • EDGE ADVANTAGE
    • EA Homepage
    • EA Data
  • FACILITIES
  • RESOURCES
    • PRODUCTS & SERVICES DIRECTORY
    • CALENDAR
    • CONTACT
    • ABOUT US
    • O&P LIBRARY
    • THE GUIDE
    • CUSTOM PUBLICATIONS
    • ADVERTISING
    • EDGE DIRECT
    • AMPLITUDE
  • OANDP-L
  • LOGIN

© 2023 The O&P EDGE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
The O&P EDGE Magazine
 
Required 'Candidate' login to applying this job. Click here to logout And try again
 

Login to your account

  • Forgot Password? | Sign Up

Reset Password

  • Already have an account? Login

Enter the username or e-mail you used in your profile. A password reset link will be sent to you by email.

Signup to your Account

  • By clicking checkbox, you agree to our Terms and Conditions and Privacy Policy

    Already have an account? Login

Close
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
 

Account Activation

Before you can login, you must activate your account with the code sent to your email address. If you did not receive this email, please check your junk/spam folder. Click here to resend the activation email. If you entered an incorrect email address, you will need to re-register with the correct email address.