New 5-week Extension of PPP Loans

July 6, 2020

While all good things must come to an end, the Paycheck Protection Program (PPP) was just given a new life. On July 4th, President Trump signed a bill extending the filing deadline for PPP loans by five weeks. Set to expire on June 30, the new filing deadline is August 8.
 
There is still well over $100 billion in funds available as small business loans to cover the costs of payroll, rent, utilities, and interest. To the extent the funds are used for qualifying payroll costs, rent, utilities, and interest over a period of up to 24 weeks, the loans will be forgiven.
 
Whether you are an employer or are self-employed with no employees, you are probably eligible for these loans. We encourage you to check with your banker to see if you are eligible. 

You can count on us for future updates and to address your questions on the PPP; contact your accountant or email contactus@gccpas.net.

 

 

200 West Roseburg Avenue
Modesto, CA 95350

(209) 527-4220 (phone)
(209) 527-4247 (fax)

https://www.grimbleby-coleman.com/resources/articles/233

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Our Commitment to Safety and Prevention of COVID-19

Dear friends and clients,

Thank you for putting your trust in us to provide your tax and advisory services. These are rare and unusual circumstances; but be assured, we are committed to providing continued services and support over the coming weeks.

To lessen our societal impact, as well as to protect the well-being of you, our clients, and our team, we ask that the majority of our communications be electronic or over the phone (we have rescheduled all meetings to be handled in this way).

At this time, our office is closed to the public. You may drop off paper documents in our mail slot. We strongly encourage you to use our electronic collaboration tools for securely scanning and sending tax documents and we have the necessary data security in place to ensure security and privacy.

To read our January letter detailing our electronic collaboration tools, and specific instructions, click here. We are happy to assist in the set-up of any of these applications, if you have not used them in the past; contact our Admin team at the phone number or email below.

GC looks forward to normalizing our processes as soon as safety dictates. Be well and take care of yourselves, your community, and your loved ones. We are here for you professionally and personally, so do not hesitate to reach out.

All the Best,

Clive Grimbleby, President
Grimbleby Coleman CPAs
Certified Public Accountants, Inc.
(209) 527-4220
contactus@gccpas.net

 

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