购买力平价的贷款

Please see Circular 230 Disclosure at bottom of page

工资保障计划贷款

介绍

工资保障计划贷款 (“购买力平价的贷款s”) will be available until June 30, 2020年对小企业, 包括个体户, 以及其他一些组织. PPP贷款也可以被描述为有条件赠款，因为如果借款人满足某些条件，所有或部分PPP贷款将被免除, which include retention of employees and maintaining the employees’ 工资.  购买力平价的贷款s are in the amount of 2-1/2 times the borrower’s average monthly payroll costs, 不要超过1000万美元. The total appropriation available to small businesses under this program is $349 billion. Several commentators have estimated that demand from small businesses will far outpace the appropriated amount.

The proceeds of 购买力平价的贷款s may be used to pay for the following costs and expenses: (1) payroll costs; (2) group healthcare benefits; (3) interest (but not principal) on mortgage loans incurred prior to February 15, 2020; (4) 租金 on leases entered into prior to February 15, 2020; (5) utilities; and (6) interest (but not principal) on other debts incurred prior to February 15, 2020. 公用事业费用包括电费, 气体, 水, 运输, telephone and internet services which began prior to February 15, 2020.

购买力平价的贷款s are forgivable up to the full principal amount of the 购买力平价的贷款.  如果借款人减少其全职当量(“FTE”)雇员的数量或如果借款人降低普通雇员的工资，PPP贷款的减免金额将会降低.

PPP贷款的部分将被免除 不 按应纳税所得额处理.

购买力平价的贷款s are nonrecourse and the proprietor is not required to personally guarantee the loan. 购买力平价的贷款s have no origination fee and the interest rate may not exceed 4.每年0%. (The SBA has indicated that the interest rate on 购买力平价的贷款s will be 0.5% per annum, then adjusted to 1% based on bank resistance.  This appears to be a moving target as of the writing of this article.)  Payments on 购买力平价的贷款s are deferred for a period of at least 6 months, but not more than 1 year. PPP贷款没有预付款罚款. For any portion of a 购买力平价的贷款 which is not forgiven, the maturity date of the loan cannot exceed 10 years. (The SBA has announced that the anticipated term of 购买力平价的贷款s will be 2 years.)

如果借款人的PPP贷款被免除, the borrower is not eligible for the deferral of payroll taxes offered under Sec. 2302的关怀法案. 也, an employer who receives a 购买力平价的贷款 is not eligible for the employee retention credit provided for in Sec. CARE法案的2301条.

符合条件的借款人

Borrowers eligible to receive 购买力平价的贷款s include any business; nonprofit organization, 如IRC Sec所述. 501(c )(3); veterans organization ,如IRC Sec所述. 501(c)(19); or Tribal business with no more than 500 employees. Individuals who are sole proprietors or independent contractors are also eligible borrowers.

如果一家企业的雇员人数仍然低于小企业管理局(“SBA”)在其行业的NAICS代码中确定的标准雇员人数，那么这家企业可能有超过500名员工.  也, for businesses in NAICS Code 72 (Accommodation and Food Service businesses), the business will be eligible if it has no more than 500 employees in any location.  The SBA’s affiliation rules are waived for business in the NAICS Code 72, is a franchisee or received financial assistance from a Small Business Investment Company.

A sole proprietor must submit documentation to substantiate the operation of a business, 其中可能包括工资税申报单, 表格1099-MISC或收益表.

借款人必须证明以下内容:(1)当前经济状况的不确定性使得贷款请求有必要支持正在进行的业务, (2) the loan funds will be used to retain workers or make mortgage, 租金, 或效用支付, (3) the borrower has not submitted duplicate 购买力平价的贷款 applications with multiple lenders, (4) 2月15日起, 2020年12月21日, 2020, the borrower has not received another SBA Loan for the same expenditures. A borrower is presumed to be adversely impacted by COVID-19.

贷款金额

最高贷款金额为A) 1000万美元或B) 2019日历年期间平均每月工资成本的2.5倍之和加上1月31日之后获得的任何SBA经济伤害灾难贷款的金额，两者中较小的一个, 2020. (Special rules apply to seasonal employers and new businesses.)

Payroll costs include the following expenses: A) 工资, 工资, 佣金, or similar compensation; B) payment of cash tips or equivalent; C) pay for vacations and for pa租金al, 家庭, medical or sick leave (see below regarding reduction for FFCRA credits); D) dismissal or severance pay; E) payments for healthcare benefits, including insurance premiums; F) retirement benefits; G) state or local taxes assessed on compensation; and H) the sum of payments of any compensation to or 收入 of a sole proprietor or independent contractor that is a wage, 委员会, 收入, net earnings from self-employment or similar compensation not in excess of $100,000. 

Payroll costs do 不 include A) compensation of an individual employee in excess of $100,000; B) federal payroll taxes; C) compensation of an employee whose principal residence is outside the United States; D) qualified sick pay for which a credit is allowed under Sec. 7001 of the Families First Coronavirus Response Act (the “FFCRA”); and E) qualified 家庭 leave for which a credit is allowed under Sec. FFCRA的7003.

PPP贷款收益的使用

购买力平价的贷款 proceeds may be used for any of the following expenditures during the covered period between February 15, 2020年和6月30日, 2020:

1. Payroll costs (as described in the 贷款金额 sections);
2. Group health care benefits during periods of paid sick, 医疗或探亲假, 和保险费;
3. Employee salaries, 佣金 and similar compensation;
4. Interest on mortgage loans, excluding prepayments and principal payments;
5. 租金;
6. 公用事业公司; and
7. Interest on any other debt incurred before February 15, 2020.

公用事业费用包括电费, 气体, 水, 运输, telephone and internet services which began prior to February 15, 2020.

如何获得PPP贷款

《赌博信誉推荐》预计，小企业管理局将通过经批准的小企业管理局贷款机构(包括联邦保险银行和信用合作社)处理PPP贷款申请. The approved lenders will process and fund the 购买力平价的贷款 applications. The ACT instructs the SBA to draft regulations and rules within 15 days of passage of the 关心行为.

宽恕数量

PPP贷款的借款人有资格在从PPP贷款发起之日起的八周内免除以下金额的债务(“覆盖期间”).”):

1. Payroll costs (as described in the 贷款金额 section);
2. Interest on mortgage loans, excluding prepayments and principal payments;
3. 租金; and
4. 公用事业公司.

The lenders will be reimbursed by the SBA for the amount of the 购买力平价的贷款 forgiven.

贷款宽免限额

若借款人减少其相当于全职雇员的人数或大幅降低其普通雇员的工资，则可获减免的PPP贷款金额将会减少.

1. fte数量减少

若PPP贷款借款人在有关期间内将其全职雇员数目减少至借款人所选择的基准期内全职雇员数目以下，则贷款宽免额将减少.

The amount of loan forgiveness is calculated using the following formula:

由借款人选择, the Base Period is either 1) the period between February 15, 2019年6月30日, 2019年或2)1月1日之间的时期, 2020年和2月29日, 2020.  以下特别规定适用于季节性雇主和让雇员无薪或减薪休假的雇主, 在2月14日, 2020年及4月26日之前, 2020 and rehires those workers and eliminated the pay reductions by June 20, 2020.

贷款宽免额不得超过贷款的本金或在有关期间内所发生的合资格费用总额. Accordingly, the fraction shown above applied to eligible costs cannot exceed 1.

2. 减少薪金和工资

贷款减免扣除任何受测试雇员在有关期间内的任何工资和薪金减幅的总和，如果减幅超过该雇员在有关期间之前的最近一个完整季度的工资和薪金总额的25%. For loans obtained during the second quarter of 2020, the most recent full quarter will be the quarter ended March 31, 2020.

Tested employees include any employee who did not receive, 按年计算, 超过100美元,000 in 工资 or salary during any pay period in 2019.

The following table illustrates the compilation of the reduction

Do not include employees in the compilation who received 超过100美元,000 按年计算 for any pay period in 2019.

Note that the Covered Period is a period of eight weeks totaling 56 days. 与截至3月31日的季度的91天相比，在8周的覆盖期内支付的工资和工资, 2020. Accordingly, the number of days in the Covered Period represents only 61.5% of the number of days in the prior full quarter. 目前尚不清楚这是否是国会所期望的结果，或者这是否是一个可以通过澄清规则或法规来纠正的起草错误.

By way of example, Sally Smith works for Good Employer. 她每天挣400美元，每周挣2000美元. Good Employer retains Sally at her regular rate of pay throughout the covered period. Accordingly, Good Employer pays Sally $16,000 during the covered period (8 weeks x $2,000 per week.) During the prior quarter, Sally was paid $26,000 ($2,000 per week x 13 weeks). 关于Sally, Good Employer will have a forgiveness reduction of $3,500 even though Sally retained her same rate of pay ($16,000人只支付了26美元的75%,上一季度支付了000英镑.)

也许这就是国会的意图. 毕竟, Good Employer will get an 收入 tax deduction of $16,000 for the 工资 paid to Sally from the 购买力平价的贷款 proceeds. 使用21%的税率, 好雇主得到3美元,360 收入 tax benefit for the payment of Sally’s 工资. But $12,500 of the 购买力平价的贷款 used to pay Sally will be forgiven.  我们认为这种可能性更大，也许不是, but are awaiting guidance on if this is a drafting error or the intended consequence.  As information is released concerning forgiveness we expect clarification and direction on this matter.

宽恕的文档

The borrower must submit required documentation to obtain debt forgiveness. 所需文件包括以下内容:

1. Verification of number of FTEs on the payroll and their pay rates for a) one year period before loan origination; b) covered period, C)借款人选择的基准期, 包括工资税申报;
2. 验证的抵押贷款, 租金 and utility payments during the covered period, 其中可能包括已注销的支票, 帐目成绩单或其他文件;
3. 借款人代表出具的证明:A)所提交的文件是真实无误的;b)所要求的宽免金额用于保留雇员或抵押贷款, 租金 或效用支付; and
4. 小型管理局可能需要的其他文件.

贷款人必须在收到借款人的宽免申请后60天内就宽免请求作出决定.

鼓励银行

The Cares Act provides several inducements for lenders to participate in the 购买力平价的贷款 program including:

1. The originating lender will receive a processing reimbursement equal to between 1.0% to 5.原贷款金额的0%;
2. 利率最高可达4.每年0%;
3. 100% guarantee of principal and accrued interest from the SBA;
4. 银行资本要求的风险加权;
5. Exemption from Troubles Debt Restructuring disclosures under existing generally accepted accounting principles.

The demand on lenders has been greater than anything we have seen in our generation.  This demand, coupled with concerns around inadequate funding for the program overall, has resulted

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薪酬保障计划贷款
特殊规则

季节性的雇主

In determining the maximum 购买力平价的贷款 amount for a Seasonal Employer, in lieu of using the monthly average of payroll costs for the 1 year period before the 购买力平价的贷款, the Seasonal Employer may use the average payroll costs for either A) the 12 week period beginning February 15, 2019年5月10日结束, 2019 or B) the four month period beginning March 1, 2019年6月30日结束, 2019. The SBA shall promulgate rules defining a “Seasonal Employer.”

在确定还原量时, 如果有任何, 宽免金额, a Seasonal Employer shall apply the following fraction to determine the 宽恕数量:

新雇主

For employers that were not in business during the period from February 15, 2019年6月30日, 2019, 应借款人/雇主的要求, the borrower/employer may calculate its average monthly payroll costs for the period from January 1, 2020年至2月29日, 2020.

重新雇用

Covers period February 15, 2020 to April 27, 2020 (30 days after date of enactment.) Applies when an employer has had a reduction in FTEs or 工资 paid after February 15, 2020. This provision permits the employer to eliminate the reduction in FTEs or salary by June 30, 2020.

这项规定的适用范围似乎有限. It is unlikely that applicants/employers will receive covered loans much sooner than April 15, 2020. The testing period is the eight week period after the origination of the loan.  The Forgiveness reduction will be based on the eight week period after the loan is received. The borrower/employer will have the opportunity to re-hire employees immediately upon receiving the 购买力平价的贷款, 和相应的, be fully staffed during the eight week testing period.

有用的链接:

U.S. 中小企业管理局

PPP模式申请表格样本

U.S. 财政部

为小型企业提供援助

购买力平价信息表 ——银行

购买力平价信息表 ——借款人

小企业工资保障计划

U.S. 商会

Coronavirus Emergency Loans | Small Business Guide and Checklist

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