Search
  • Ted Uppole

April 3 - PPP loan forgiveness and benefits

Good Morning! So as I said last night the Paycheck Protection Program (PPP) Loans are live! NECA National just sent you an email on this and we have just posted a new resource section just for the PPP Application process. One thing that apparently national was able to find through the Treasury that I couldn’t is: Do benefits count under your PPP Loan forgiveness?

  • Based on recent Treasury guidance, to calculate your payroll cost for purposes of the PPP loan, include salary, wages, commissions, or similar compensation; cash tips or the equivalent; payment for vacation, parental, family, medical, or sick leave; allowance for separation or dismissal; payment for the provision of employee benefits consisting of group health care coverage, including insurance premiums, and retirement; and payment of state and local taxes assessed on compensation of employees.

That’s fantastic news! So please, make sure you are contacting your banker and getting your application in ASAP. Good Luck!

16 views0 comments

Recent Posts

See All

NECA Legal Alert- Legal Expansion of Leave Under ARPA

Good Evening, I hope you all are doing well. I would like to draw your attention to a NECA Legal Alert regarding the recently passed ARPA legislation, and the expansion of the credit for Paid Sick Lea

3/5/2021 Update: Upcoming Events

Good Afternoon! I hope everyone has had a great week. I have a few items I wanted to bring to your attention before you break to the weekend. If you still have anyone on furlough using NDERA, please s

2/9/2021 Update: Job Fair & DEI Survey

Good Afternoon! We’re in the bleakest part of the year for most folks, and February is doing its best to make it as cold and snowy as it can. Still, there’s some good news to impart and new opportunit