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Stimulus Bill Includes Small Business PPP Loans and Forgiveness Rule Changes

#PPPLoans #ReliefProgram #PPP #Loans


Stimulus Bill Includes Small Business PPP Loans and Forgiveness Rule Changes

刺激法案包括小型企业PPP贷款和宽免规则变更



Congress on December 22dn, passed a second stimulus bill and now is awaiting President Trump’s signature — and it includes a second round of PPP loans for affected small businesses as well as loan-forgiveness rule changes that are favorable to PPP borrowers. The second round of PPP loans for affected small businesses is referred to as “second draw loans.” While the rules for these second draw loans are familiar, they have changed drastically from the original program, so small businesses and lenders need to get up to speed quickly on who qualifies. In addition to providing a second draw of PPP loan funding for qualifying business, the legislation includes favorable changes to loan-forgiveness taxation and adds a simplified one-page forgiveness application for loans of $150,000 or less.

国会于12月22日通过了第二轮刺激法案,目前正在等待特朗普总统的签署-其中包括针对受影响的小企业的第二轮PPP贷款,以及对PPP借款人有利的贷款宽免规则变更。针对受影响小企业的第二轮PPP贷款称为“第二次提取贷款”。虽然这些第二笔提取贷款的规则並不陌生,但与原始计划相比已发生了很大变化,因此,小型企业和贷方需要加快进行资格认定的速度。除了为合格企业提供第二笔PPP贷款资金外,该立法还包括对贷款宽免税則的有利变更,并为15万美元或以下的贷款增加了简化的一页宽免申请。


The new legislation allocates around $284 billion and refers to the new loans as second draw loans. The loan limit is $2 million, and the amount a small business will qualify for is determined by taking their average monthly payroll in 2019 and multiplying it by 2.5. The bill has a special calculation for restaurants and food businesses and provides those businesses a larger loan amount of 3.5 months of average monthly payroll.

新立法分配了约2840亿美元,并将新贷款称为二次提取贷款。贷款限额为200万美元,小企业将有资格获得的金额取决于他们在2019年的平均月薪,再乘以2.5。该法案对餐馆和食品企业进行了特殊计算,并为这些企业提供了3.5个月平均每月工资的较大额度的贷款。


To qualify for a second draw PPP loan, a small business must have 300 employees or less, down from the original 500 employee maximum in the first round. And a small business must have already used or plan to use their original PPP funding. Similar to the original PPP loan program, the small business can use the loan proceeds over a period of 24 weeks and can use the funds for payroll, rent, and mortgage expenses. The bill also adds some new expenses to the list of “qualifying expenses.” These new qualifying expenses include operating expenses, workplace protection costs to protect employees from COVID, and covered property damage.

要获得第二笔PPP贷款的资格,小型企业必须拥有300名或更少的雇员,低于第一轮最初的500名雇员。小型企业必须已经使用或计划使用其原始的PPP资金。与原始的PPP贷款计划类似,小型企业可以在24周内使用贷款收益,并可以将资金用于工资,租金和抵押费用。该法案还将一些新支出添加到“合格支出”列表中。这些新的合格支出包括运营支出,保护员工免受COVID侵害的工作场所保护成本和财产损失保障。



25% Loss of Revenue Required to Qualify

損失25%的收入才符合申請資格


To qualify for a second draw loan, a small business must certify that they have had a loss of revenue of 25% or greater. Under the 25% loss-of-revenue test, the small business will compare their 2020 quarterly revenue against their 1st, 2nd, and 3rd quarters of revenue in 2019. In order to qualify for a second draw PPP loan, a borrower must be able to show a loss in revenue of 25% or more from at least one quarter of 2020 as compared to that same quarter in 2019.

为了获得第二笔提取贷款的资格,小型企业必须证明其收入损失达到25%或以上。根据25%的收入损失测试,小型企业将把2020年的季度收入与2019年的第一,第二和第三季度进行比较。为了有资格获得第二笔PPP贷款,借款人必须能够顯示从2020年至少一个季度开始,与2019年同期相比,收入损失至少25%。



Second Draw Loans Eligible for Forgiveness Under 60% Payroll Rule

根据薪金总额60%规定有资格获得宽免的第二笔贷款


The second draw loans are forgivable but must be spent 60% on payroll costs. Since the loan amount is based on 2.5 months of average payroll, which is 10-11 weeks, and since the small business can use the funds over a 24-week period, it seems very likely that most small businesses will be able to use 60% of the PPP funds on payroll costs.


第二笔提取贷款是可以宽免的,但必须用于支付工资成本的60%。由于贷款金额基于10至11周,也就是2.5个月的平均工资,并且由于小型企业可以在24周内使用这笔资金,因此大多数小型企业很可能能够使用PPP资金的60%用於工资成本。


Original and Second Draw PPP Loans Will Not be Taxable When Forgiven

首次和第二笔PPP贷款寬免后免征税


The new legislation provides that forgiven PPP loans will not be taxable to the small-business borrower. This applies to all existing PPP loans under the original CARES Act as well as the new second draw PPP loans. Prior to the legislation, the IRS had issued guidance to small businesses saying that PPP borrowers could not expense their wages and other qualifying costs that they used their PPP funds on if they ended up getting their PPP loan forgiven. By denying the deduction, the IRS was effectively taxing the small business for its PPP loan. This position seemed contrary to what Congress intended with the CARES Act and the original PPP legislation back in March, but it literally took an act of Congress here to correct the interpretation from the IRS. The good news for small businesses is that borrowers can have their PPP loan forgiven and they will still be able to deduct their payroll and other qualifying expenses that they used their PPP funds on.

新立法规定,寬免的PPP贷款将不向小企业借款人征税。这适用于原始CARES法案下的所有现有PPP贷款以及新的第二笔PPP贷款。在立法颁布之前,美国国税局已向小型企业发布了指南,称PPP借款人如果最終使其PPP貸款得到寬免,借款人不得把PPP資金所用於的工資和其他合格費用作為支出。通过拒绝扣除,国税局实际上是在为小企业的PPP贷款征税。这种立场似乎与国会三月份制定的《 CARES法案》和最初PPP立法的意图背道而驰,但实际上国会法案的頒布纠正了IRS的解释。对于小企业而言,好消息是,借款人可以免除其PPP贷款,並且他们仍将能够扣除其薪金和其他使用PPP資金的合格支出。


The legislation also states that emergency EIDL Grants and Advances, which are considered forgiven and, in most instances, do not need to be re-paid, are also not taxable to the small business borrower.

立法还规定,紧急EIDL赠款和预付款被认为是宽免的,在大多数情况下不需要偿还,也无需向小企业借款人征税。


Loans of Less than $150,000 Will Get Simplified Forgiveness Application

低于15万美元的贷款将获得简化的宽免申请


The legislation mandates the SBA to create a simplified PPP forgiveness application for small businesses whose PPP loans were less than $150,000. The simplified application must fit on one page and will include loan information as well as a certification from the business owner that the funds were used properly and are eligible for forgiveness, but will not include calculations or other additional information. The SBA already has a simplified one-page PPP forgiveness application for borrowers of $50,000 or less. It is likely that the SBA will utilize a similar application for borrowers with loans of less than $150,000. See my prior article on the simplified forgiveness application here.

立法強制要求SBA为PPP贷款少于150,000美元的小企业创建简化的PPP寬免申请。简化的应用程序必须放在一页上,并且将包括贷款信息以及企业所有者的证明,证明资金已被正确使用且符合宽免資格,但不包括计算過程或其他附加信息。 SBA已经为5万美元或以下的借款人提供了简化的一页PPP宽免申请。 SBA可能会为贷款少于15万美元的借款人使用类似的申请。请参阅我先前关于简化的宽免申請表格的文章。


Once signed into law by the President, which the White House has indicated is likely, the SBA and Treasury have been tasked with providing interpretive guidance and forms for the new forgiveness rules, as well as loan applications and guidelines for second draw PPP loan borrowers.

一旦由总统签署成為法律,而白宫已表明是有可能的,SBA和财政部的任务就是为新的宽免规则,第二次PPP贷款借款人的贷款申请和指南提供解释性指导和表格。



Source文章來源:https://jrreport.wordandbrown.com/2020/12/22/stimulus-bill-includes-small-business-ppp-loans-and-forgiveness-rule-changes/

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