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COVID-19 Relief Bill – Extends Paycheck Protection Program and Creates Second Draw Loan Program

On December 21, the United States Congress passed the Consolidated Appropriations Act, 2021, to fund annual appropriations and, through its “Additional Coronavirus Response and Relief” provisions, to supply a second round of...more

SBA Releases PPP Loan Forgiveness Application and Issues Formal Guidance Regarding PPP Loan Forgiveness

This alert, originally published May 19, 2020, was updated to reflect further guidance issued by the SBA on May 22, 2020 regarding PPP loan forgiveness. The Small Business Administration (SBA) has released the first major...more

SBA Issues Additional Guidance on “Need” Certification, Extends Safe Harbor Date to May 18

Just one day before the May 14 safe harbor date for borrowers to repay loans under the Paycheck Protection Program (PPP), the Small Business Administration (SBA) issued additional guidance regarding the good faith “need”...more

Senate Approves $380 Billion Expansion of CARES Act Small Business Loan Programs

In an effort to dramatically expand the amount of aid made available to small businesses under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the U.S. Senate yesterday approved over $320 billion in additional...more

Treasury and Fed Announce Details of $600 Billion Main Street Business Lending Program for Small and Mid-Sized Businesses

The U.S. Treasury Department (Treasury) and Federal Reserve have released much-anticipated details regarding the establishment of a Main Street Business Lending Program (Main Street Program) to provide up to $600 billion in...more

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