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The Consolidated Appropriations Act, 2021: Important Paycheck Protection Program Provisions

On December 27, 2020, the President signed into law the Consolidated Appropriations Act, 2021 (the Act). The Act is wide-sweeping in its breadth at over 5,500 pages and provides the annual funding for the federal...more

The Consolidated Appropriations Act, 2021: Tax-Related Changes

On December 27, 2020, the President signed into law the Consolidated Appropriations Act, 2021 (the Act). The Act, among many other things, expands the employee retention tax credit and includes favorable changes to other...more

SBA Issues Procedural Notice Regarding Changes Of Ownership

Under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the Small Business Administration (SBA) is tasked with administering the Paycheck Protection Program (PPP), the loan program intended to allow...more

SBA Issues New Interim Final Rule For Paycheck Protection Program– Guidance Your Business Should Be Aware Of

Under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the Small Business Administration (SBA) is tasked with administering the Paycheck Protection Program (PPP), the loan program intended to allow...more

Amendment To CARES Act And PPP Loan Forgiveness

On June 5, 2020, President Trump signed H.R. 7010 (the Bill), which the Senate had unanimously passed. The Bill amends several provisions of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and the Paycheck...more

Alternative Loan Options For Certain Small Businesses, Non-Profits And Landlords In New York State

For certain small businesses, non-profits and landlords who did not receive a Paycheck Protection Program loan or an Economic Injury Disaster Loan from the Small Business Administration, New York State is making available...more

Main Street Loans: How Much May A Company Borrow?

Federal Reserve Chairman Jerome Powell announced on May 19, 2020, before a Senate Committee that the Main Street Lending Program (Program) is anticipated to be launched around the end of May. Prospective borrowers should be...more

SBA Releases Additional PPP Loan Forgiveness Guidance

On May 22, 2020, the Small Business Administration (SBA), in consultation with the U.S. Department of Treasury (Treasury), published an interim final rule (the Forgiveness Guidance) to supplement previous Paycheck Protection...more

SBA Releases PPP Loan Forgiveness Application And Instructions

On May 15, 2020, the Small Business Administration (SBA), in consultation with the U.S. Department of Treasury (Treasury) released the Paycheck Protection Program (PPP) Loan Forgiveness Application (the Forgiveness...more

SBA Extends Good Faith Certification Safe Harbor Until May 18, 2020 And Loan Increases For Certain Partnerships

Under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the Small Business Administration (SBA) is tasked with administering the Paycheck Protection Program (PPP), the loan program intended to allow...more

SBA Issues Additional Guidance On Good Faith Certification

Under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the Small Business Administration (SBA) is tasked with administering the Paycheck Protection Program (PPP), the loan program intended to allow...more

SBA Issues Additional FAQ On Paycheck Protection Program

Under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the Small Business Administration (SBA) is tasked with administering the Paycheck Protection Program (PPP), the loan program intended to allow...more

Revisions Announced To Main Street Lending Program

The U.S. Federal Reserve (Federal Reserve) announced revisions to the Main Street Lending Program (Program) to facilitate lending to small and medium-sized businesses by eligible lenders...more

The Paycheck Protection Program – Additional Guidance

Under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the Small Business Administration (SBA) is tasked with administering the Paycheck Protection Program (PPP), the loan program intended to allow...more

Federal Government Passes Act Providing Additional PPP and EIDL Funding – What Businesses Should Know

The Paycheck Protection Program and Health Care Enhancement Act (the Enhancement Act) was passed on April 24, 2020, and provides $484 billion in additional funding. Critically, the Enhancement Act includes additional funding...more

The U.S. Department Of Treasury Issues Updated Guidance On Borrower Certification

On April 23, 2020, the U.S. Department of Treasury (Treasury) issued an updated FAQ (the Updated Guidance) with one additional Q and A (Q31) that addresses the required certification that “current economic uncertainty makes...more

The Paycheck Protection Program – How To Obtain Forgiveness Of Your Loan And Answers To Commonly Asked Questions

Under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) the Small Business Administration (SBA) is tasked with administering the Paycheck Protection Program (PPP), a newly created loan program intended to...more

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