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Van Bruggen & Vande Vegte, P.C.

Founded by Arthur Van Bruggen in 1977 as the first CPA firm serving Northwest Iowa, our commitment was, and still is, to serve the best interests of each and every one of our clients. Please take a few moments, acquaint yourself with our firm and contact us for more information about our accounting or financial services.

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Office Locations

Orange City Office
113 3rd St NE
Orange City, IA 51041
Phone: 712-737-2030
Fax: 712-737-2075
Rock Valley Office
P.O. Box 40
1313 Golf Course Road
Rock Valley, IA 51247
Phone: 712-476-2725
Fax: 712-476-2726

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Email: info@vbvv.cpa

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New guidance on PPP loans

general
Posted by Admin Posted on Apr 15 2020

Dear sole proprietor and self-employed,

New guidance on Paycheck Protection Program (PPP) loans was released on April 14.　 This guidance clarifies the rules for non-farm sole proprietors and self-employed businesses.　 All SBA-approved lenders should now be accepting applications for non-farm businesses.

The guidance did not specifically address farming sole proprietors and self-employed businesses, and it is unclear whether additional guidance is still coming or if the new guidance should be followed.　 Therefore, some lenders may not be submitting farm business applications to the SBA pending further clarification.

If you feel that you are a good candidate for the PPP loan program, we recommend you contact your lender about submitting a PPP loan application.　 Even if your lender will not submit the application to the SBA, it is still beneficial to get the process started.

Please contact us if you have questions on the new guidance, PPP loans in general, or any of the COVID-19 relief opportunities available.

Sincerely,

Van Bruggen & Vande Vegte, PC