The Paycheck Protection Program (“PPP”) began with rushed legislation and a race for financial support in the middle of a pandemic. This race was hardly a straight line as the Small Business Administration (“SBA”) and the...more
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
4/1/2021
/ Architects ,
CARES Act ,
Contractors ,
Coronavirus/COVID-19 ,
DCAA ,
Department of Defense (DOD) ,
Department of Transportation (DOT) ,
Engineering ,
Federal Acquisition Regulations (FAR) ,
Federal Contractors ,
Fixed Price ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
SBA
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
We have received questions from a number of clients about whether SBA’s consent is required for a change of control involving a Paycheck Protection Program borrower. On October 2, SBA provided additional guidance that...more
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
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
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
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
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
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
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
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
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
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
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
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
Late Friday evening, the Small Business Administration (SBA) issued an Interim Final Rule on affiliation, which was posted to the U.S. Treasury Department’s Paycheck Protection Program (PPP) loan website. This interim final...more
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
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