dollars and calculator with plus red button, used for an article about Pay Check Protection SBA loans due to Covid-19 for small businesses, written by Rolf Neuweiler, consulting CFO at

PPP Loans’ New & Better Terms, – 6 days left to apply!

The Paycheck Protection Program  (PPP) loan program is scheduled to end June 30, 2020.  The new PPP legislation has changed the Paycheck Protection Program Loan to make it easier to qualify for forgiveness up to 100%:

  • You now have up to a 24-week Covered Period (previously 8 weeks) to spend loan funds starting the date loan funds were received.
  • Your new eligible payroll cost percentage has been reduced from 75% to 60%; you still qualify for partial forgiveness if you do not meet the 60% threshold.
  • You can use up to 40% of funds for eligible non-payroll costs, up from 25%.
  • If you apply for Forgiveness, you won’t have to start making payments until the SBA makes a decision or remits the funds. You generally have to submit a Forgiveness request within 10 months after the 24-week Covered Period ends.
  • If you don’t apply for Forgiveness, you won’t have to start making payments until 10 months after the 24-week Covered Period ends
  • You may be eligible for FTE (full time employee) Safe Harbor provisions if you have fewer employees now.
  • The maximum amount under PPP is $100,000 annual compensation. For a self-employed person the new maximum total compensation if you are electing 24 weeks is now $46,154 (24/52X$100,000).

New EZ Form for applying for PPP Loan

The SBA published a new PPP Loan Forgiveness Application Form (3508EZ). To qualify for using this EZ Form, a borrowers needs to check that:

  1. self-employed and have no employees
  2. Did not reduce the salaries or wages of your employees by more than 25% and did not reduce the number or hours of your employees
  3. Experienced reductions in business activity as a result of health directives related to COVID-19 and did not reduce the salaries or wages of your employees by more than 25%

A2zCFO, both the Right and Left Arms for your organization

A2ZCFO takes pride in helping small business owners prepare for either storms or calm weather, and navigate safely through rough waters like Covid-19 Pandemic. As a consulting CFO, I help business owners and management to “keep your ship on course.”

  • We help with any aspect of financial management from A to Z. 
  • By providing trusted financial advice, I create financial and goal clarity, resulting in increases in cash, profitability and sales all the while preparing the business strategically for a successful exit when the time is right.
  • Works at client’s location and directly with client’s staff;
  • Affordable and flexibility in hours – 4 hours a month to short term full time assignment;  
  • Excels at messy and difficult clean up situations;
  • Meaningful financial reporting for management, bankers, and CPA’s.  Tax returns completed by 4/15;
  • Cradle to grave services – from bootstrapped startups to exit transition service experience.

Please call me (925) 216-5058 or email:

A2Z CFO, we keep your ship on course.

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