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SBA Finalizes Changes In How To Calculate Size For Various Programs

Earlier this week, the U.S. Small Business Administration (SBA) issued a Final Rule adopting changes to how a concern calculates its number of employees for eligibility purposes in all of SBA’s programs, as well as how a...more

All Is Not Forgiven: PPP Forgiveness And Credits

On March 23, 2021, The House Small Business, Subcommittee on Contracting and Infrastructure held a remote hearing titled: “The Interaction Between the Paycheck Protection Program and Federal Acquisition Regulations: What It...more

The Economic Aid Act And A Second Round Of PPP Loans

The Consolidated Appropriations Act of 2021, which became law on December 27, 2021, includes a second round of stimulus funding in the form of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act(the...more

M&A In 2020 And Trends For 2021

2020 brought the COVID-19 pandemic and other headline-grabbing challenges, along with “the usual” quadrennial questions around the U.S. election. Early in the year, businesses and dealmakers focused on the pandemic and...more

PPP Loan Forgiveness Checklist

The Paycheck Protection Program (PPP), which is part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, provides aid to qualifying small businesses in the form of loans with terms favorable to borrowers,...more

SBA Issues Promised Appeals Procedures For PPP Loan Review Decisions

As we previously reported, when the Small Business Administration (SBA) issued its first Interim Final Rule on SBA Loan Review Procedures and Related Borrower and Lender Responsibilities back in May, SBA explained that it...more

SBA’s Implementation Of The Paycheck Protection Program Flexibility Act In Wave Of New Rules And Application Forms

As we previously reported, the Paycheck Protection Program Flexibility Act (“PPP Flexibility Act”) became law earlier this month, introducing numerous changes to the Paycheck Protection Program (PPP). The PPP, which is part...more

Congress Passes PPP Revisions And Advocates For Public Disclosure Of Recipients

In the wake of the massive economic disruption caused by the Coronavirus outbreak, Congress enacted the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020. The Payroll Protection Program...more

SBA Issues New Rules On PPP Loan Forgiveness And Loan Review Procedures

Since the inception of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) nearly eight weeks ago, the Small Business Administration (SBA) has issued loans under the Paycheck Protection Program (PPP) that...more

PPP Loan Forgiveness Application Is Finally Here

During these uncertain economic times, the Small Business Administration (SBA) loans under the Paycheck Protection Program (PPP) have been a critical lifeline for many small businesses trying to weather the COVID-19 pandemic....more

Are Foreign Employees Included In Calculating Size For PPP’s 500-Employee Size Standard? New Guidance Makes The Answer...

Updated May 18, 2020- As many companies are likely aware by now, Small Business Administration (SBA) loans under the Paycheck Protection Program (PPP) provide aid to qualifying small businesses in the form of loans with...more

Are Foreign Employees Included In Calculating Size For PPP’s 500-Employee Size Standard? New Guidance Makes The Answer Unclear

As many companies are likely aware by now, Small Business Administration (SBA) loans under the Paycheck Protection Program (PPP) provide aid to qualifying small businesses in the form of loans with terms favorable to...more

Is My Company’s PPP Loan “Necessary To Support Ongoing Operations?” What If I’m Wrong?

This post has been updated on May 6, 2020 with new safe harbor deadline for repayment of PPP loans. Given the proliferation of adverse news articles and TV pundit segments about well-funded companies that have received...more

The SBA Imposes A $20M Limit On PPP Loans For Corporate Groups

On April 30, 2020, the U.S. Small Business Administration (SBA) issued a sixth interim final rule on the SBA’s Paycheck Protection Program (PPP), one of the relief programs available under the Coronavirus Aid, Relief, and...more

CARES SBA Loan Eligibility And Process-UPDATED May,5 2020

The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) allows certain eligible companies and individuals to obtain loans of up to $10 million or 2.5 times the average monthly payroll costs over the last...more

My Company’s PPP Loan “Necessary To Support Ongoing Operations?” What If I’m Wrong?

Given the proliferation of adverse news articles and TV pundit segments about well-funded companies that have received federal, Small Business Administration (SBA) loans under the Paycheck Protection Program (PPP), it is...more

House Passes A $484 Billion Relief Package; Treasury And The SBA Release New Guidelines For PPP Loans

On Thursday, April 23, 2020, the U.S. House of Representatives voted in favor of the $484 billion relief package that passed in the Senate earlier this week. Once signed into law, the legislation will revive the Small...more

Treasury Department Issues Guidance (And Application) For Paycheck Protection Program Loans

On Tuesday afternoon, the Treasury Department released its guidance concerning the Paycheck Protection Program (PPP), which was authorized by Congress under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. ...more

CARES SBA Loan Eligibility And Process

The Coronavirus Aid, Relief, and Economic Security Act (“CARES” or “the Act”) allows certain eligible companies and individuals to obtain loans of up to $10 million or 2.5 times the average monthly payroll costs over the last...more

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