PPP Loan Forgiveness Application

Treasury, SBA Release Loan Forgiveness Application The US Treasury and the Small Business Administration (SBA) have coordinated to release the Paycheck Protection Program (PPP) Loan Forgiveness Application. The PPP was enacted under the CARES Act to provide eligible small businesses with loans during the COVID-19 pandemic. The application and corresponding instructions advise borrowers on how […]

Designing Nonperforming Notes

Designing Nonperforming Notes was originally published in AAPL’s Spring Edition 2020 Private Lender Magazine. A nonperforming loan (NPL) is a type of note that is in default, distressed, delinquent or otherwise dilapidated. NPLs are interchangeably used with nonperforming notes, distressed debts or distressed loans. Generally, an NPL holder no longer anticipates repayment from a borrower […]

Auditing Standards Board Agrees to Defer SASs 134-140 For One Year

The Auditing Standards Board just issued Statements on Auditing Standards 141, which delays required implementation changes to auditor’s reports for audits and employee benefits plans from reporting periods ending from December 15, 2020 to December 15, 2021, with early adoption permitted. These new reporting standards will change auditor’s reports and management’s responsibilities as follows: Statement […]

Spiegel is Working to Support Feeding America

Spiegel has teamed up with Feeding America in its effort to assist the millions of newly unemployed people in our communities who are turning to food pantries for help. Your gift of $50, $75, $100, or whatever you choose to provide will help support local food banks in the Feeding America network as they work […]

Did You Really Qualify For PPP?

Did you receive money through the Paycheck Protection Plan that you’re not entitled to? There are ramifications if you actually do not qualify. The section, below, from a SBA document provides the answer. Question: Do businesses owned by large companies with adequate sources of liquidity to support the business’s ongoing operations qualify for a PPP […]