On November 28, the Small Business Administration (SBA) finalized a rule that requires veteran-owned small businesses (VOSBs) and service-disabled veteran-owned small businesses (SDVOSBs) to obtain formal SBA certification to...more
The Paycheck Protection Program (“PPP”) was created on March 27, 2020 as part of the first COVID-19 relief package. Over the past year, Congress appropriated almost $700 billion to the PPP in an effort to provide forgivable...more
3/8/2021
/ Coronavirus/COVID-19 ,
Corporate Counsel ,
Federal Trade Commission (FTC) ,
FOIA ,
Fraud ,
Fraudulent Transfers ,
Loan Forgiveness ,
OIG ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA
In the wake of COVID-19, small businesses have faced unique challenges and hardships. In response, the government created a federal relief program under the CARES Act, the Paycheck Protection Program (PPP), aimed toward...more
3/5/2021
/ Biden Administration ,
CARES Act ,
Coronavirus/COVID-19 ,
Independent Contractors ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Popular ,
Relief Measures ,
SBA ,
Self Employed ,
Small Business ,
Small Business Loans ,
Sole Proprietorship
On January 6, the Small Business Administration (SBA) issued its Interim Final Rule (IFR) for the original Paycheck Protection Program (PPP-1) to reflect changes to the program included in the recent Economic Aid to Hard-Hit...more
1/11/2021
/ Coronavirus/COVID-19 ,
Good Faith ,
Interim Final Rules (IFR) ,
New Guidance ,
Paycheck Protection Program (PPP) ,
Property Damage ,
Publicly-Traded Companies ,
Relief Measures ,
SBA ,
Small Business ,
Small Business Loans
On December 27, the Consolidated Appropriations Act of 2021 (the “Act”) was signed into law. This Act makes available $284 billion for second draw loans under the Paycheck Protection Program (“PPP-2”) and also makes important...more
12/30/2020
/ Borrowers ,
Certification Requirements ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Eligibility ,
Financial Stimulus ,
Loan Applications ,
Loan Forgiveness ,
Loans ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
Small Business
On June 19, the Small Business Administration (SBA) published an update to its Interim Final Rules (New IFR) to reflect changes to the Paycheck Protection Program (PPP) put in place under the new Paycheck Protection Program...more
6/24/2020
/ Applications ,
Borrowers ,
CARES Act ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Relief Measures ,
SBA ,
Small Business ,
Small Business Loans
On June 3, the United States Senate passed the “Paycheck Protection Program Flexibility Act” (Act), which is designed to create additional flexibility for borrowers under the terms of the Paycheck Protection Program (PPP). ...more
On May 22, the Small Business Administration (SBA) published its long-awaited Interim Final Rule regarding loan forgiveness requirements (IFR) for the Paycheck Protection Program (PPP). The new IFR confirms several key terms...more
On May 15, the Small Business Administration (SBA) published its long-awaited Loan Forgiveness Application and Instructions for Borrowers (Application). The Application clarified certain forgiveness rules and calculations for...more
On March 27, the largest stimulus package in American history, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), was signed into law by President Trump, which will ultimately inject $2.2 trillion into the...more
4/16/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Data Collection ,
Health Care Providers ,
Healthcare ,
Pay Discrimination ,
Regulatory Oversight ,
Regulatory Requirements ,
Reporting Requirements ,
SBA ,
SBA Lending Programs ,
Small Business ,
Small Business Loans ,
Wage and Hour
Congressional and executive branch leaders reached an agreement on a $2 trillion relief package to address the economic impact of COVID-19. The Senate quickly passed the measure, which now moves on to the House for a...more
Last week, Congress passed the Coronavirus Preparedness and Response Supplemental Appropriations Act to provide relief for the COVID-19 pandemic. As part of this Act, Congress provided the Small Business Administration (SBA)...more
As of the last report, the United States Treasury Department is proposing a $1 trillion stimulus package to spur economic stability during the COVID-19 crisis. This is on top of what state and local governments are proposing...more
On November 27, 2018, the House Committee on Small Business introduced House Resolution 7169, the proposed Verification Alignment and Service-disabled Business Adjustment (VA-SBA) Act. The purpose of this new legislation is...more
Early last week, the Small Business Administration (SBA) and Department of Veterans Affairs (VA) amended their rules concerning the eligibility of Veteran-Owned Small Businesses (VOSB)1. Both agencies issued regulations...more
10/11/2018
/ Amended Rules ,
Department of Veterans Affairs ,
Federal Contractors ,
Final Rules ,
New Rules ,
Ownership Rules ,
Regulatory Requirements ,
SBA ,
SDVOSB ,
Small Business ,
Veterans ,
VOSB