News & Analysis as of September 19, 2024

Small Business Administration › Underwriting

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The Small Business Administration is a United States federal agency established in 1953 by the Small Business Act. The SBA is dedicated to assisting and supporting small business and entreprenuers. The SBA carries out its mission through a variety of programs including providing financial and federal contract procurement assistance, management assistance, and specialized outreach to women, minorities and armed forces veterans. less -

Lender Obligations Under the Revived Paycheck Protection Program

Hinshaw & Culbertson LLP on 2/17/2021

On December 28, 2020, former President Trump signed the Consolidated Appropriations Act. Over 5,000 pages in length, the Act included revisions and additions to the Paycheck Protection Program (PPP). The new PPP will: (1)...more

Buchalter COVID-19 Client Alert: Entrapment-by-Estoppel: A Potential Future Defense for Lenders in PPP Fraud Cases

Buchalter on 9/16/2020

The past decade has taught lenders much about regulatory enforcement risk. In the fallout of the 2008 financial crisis and collapse of the housing and related markets, the Department of Justice and other agencies...more

SBA Issues New Official FAQs for the Paycheck Protection Program (PPP) Addressing Borrower Eligibility, Affiliation, Underwriting,...

Mayer Brown on 4/9/2020

The SBA’s Paycheck Protection Program, a $349 billion loan guaranty program established by the CARES Act to provide deferrable, forgivable loans up to $10 million to small business owners addressed in more detail in prior...more

Paycheck Protection Program: Q&A For Lenders

Winthrop & Weinstine, P.A. on 4/1/2020

By now most banks have been alerted to the fact that a significant part of the Coronavirus Aid, Relief and Economic Security Act (“CARES ACT”), is comprised of the Paycheck Protection Program (PPP), which was signed in to law...more

SBA Lending May Be Critical to Future Community Banking

Spilman Thomas & Battle, PLLC on 9/8/2015

Headlines should read, “Congress and President Do Something Right!” On July 28, 2015, only one day after Congress passed the matter, the President signed into law an increase in Small Business Administration (“SBA”) lending,...more

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