In this episode, Akin Gump government contracts partner Angela Styles discusses the origins, workings, track record and future of the Paycheck Protection Program (PPP).
Among the topics covered:
- Self-certification,...more
4/9/2021
/ Acquisitions ,
CARES Act ,
Eligibility ,
Fraud ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Payroll Expenses ,
SBA ,
Self-Certification ,
Small Business ,
Small Business Loans ,
U.S. Treasury
Key Points
- On December 27, 2020, the new stimulus package appropriating an additional $284.45 billion for the PPP was signed into law.
- The categories of eligible uses for loan proceeds and forgiveness are...more
Key Points
- On October 26, 2020, the SBA announced its intent to require a Necessity Questionnaire for borrowers that received PPP loans of $2 million or greater.
- The SBA intends to use the Necessity Questionnaire...more
- The Department of Justice (DOJ) will focus its civil enforcement activity on fraud and other illegal actions relating to COVID-19, including with respect to CARES Act stimulus programs and consumer products marketed for use...more
7/6/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Corporate Counsel ,
Department of Justice (DOJ) ,
Enforcement Actions ,
False Claims Act (FCA) ,
Fraud ,
Main Street Lending Programs ,
Paycheck Protection Program (PPP) ,
Private Equity Firms ,
Qui Tam
- Both chambers of Congress have passed the Paycheck Protection Program Flexibility Act of 2020. The bill now heads to President Trump’s desk for his signature.
- The measure extends the Paycheck Protection Program loan...more
6/5/2020
/ Borrowers ,
Business Expenses ,
CARES Act ,
Loan Forgiveness ,
New Legislation ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Payroll Taxes ,
Safe Harbors ,
Small Business ,
Small Business Loans
On Friday, April 24, 2020, the Small Business Administration (SBA) published an Interim Final Rule (IFR) governing the Paycheck Protection Program (PPP) of the Coronavirus Aid, Relief and Economic Security Act (CARES Act). In...more
- The Paycheck Protection Program (PPP), contained within the stimulus package signed by President Trump on March 27, 2020, creates a $349 billion loan facility to help “small” businesses make payroll and pay certain other...more
Loans Under Paycheck Protection Program (Section 1102) -
Section 1102 provides $350 billion for expedited individual loans up to $10 million through approved lenders that are guaranteed 100 percent by the U.S. government....more