Article By: Meredith Caruso | Florida Realtors | Originally published May 28, 2020
The goal in a transaction is to proceed smoothly to closing. Speedbumps occasionally arise – but don’t create speedbumps on your own. A smooth process starts with careful attention to the contract, filling in all necessary blanks, and checking all appropriate boxes.
Article By: Joel Maxson | Florida Realtors | Original publication: July, 1 2020
When buyers negotiate a contract that includes both a financing contingency and appraisal contingency, they sometimes have trouble understanding where one ends and the other begins. This is understandable, since a contract with both contingencies contains substantial overlap.
The U.S. Small Business Administration and the U.S. Department of the Treasury have agreed with the bipartisan leaders of the U.S. Senate Small Business Committee to make public additional data regarding the Paycheck Protection Program (PPP). This agreement will ensure that the interests of both transparency and protections for small businesses are served.
The SBA updated its PPP loan FAQs to add FAQ 46, making good on its promise to provide additional guidance as to what circumstances necessitate repayment. FAQ 46 announces that borrowers and their affiliates receiving PPP loans below that $2 million will be assumed to have performed the required certification concerning the necessity of their loan requests in good faith (i.e., safe harbor).
The Senate passed a $484 billion interim coronavirus funding bill via voice vote on Tuesday after more than a week of intense negotiations between the Trump administration and Congress.
We've provided a quick guide to understand the differences between the EIDL Program and the PPP. Download a pdf here.
At roughly 1:00pm EST it was reported that both EIDL and PPP funds have been exhausted. It is important to not panic, as this situation continues to develop we will keep you posted. It is important to not panic, as this situation continues to develop we will keep you posted.
