As per our earlier articles, in late 2020, the SBA began requiring borrowers with First Draw PPP loans $2 million or greater to complete a PPP Loan Necessity Questionnaire (Form 3509 (For Profit Borrowers) or Form 3510...more
As per our earlier articles, in late 2020, the SBA began requiring borrowers with First Draw PPP loans $2 million or greater to complete a PPP Loan Necessity Questionnaire (Form 3509 (For Profit Borrowers) or Form 3510...more
Starting around October 26, 2020, the Small Business Administrations (the “SBA”) asked Paycheck Protection Program (“PPP”) lenders to provide certain questionnaires to PPP borrowers with loans of $2 million or greater. There...more
Starting around October 26, 2020, the Small Business Administrations (the “SBA”) asked Paycheck Protection Program (“PPP”) lenders to provide certain questionnaires to PPP borrowers with loans of $2 million or greater. There...more
6/3/2021
/ American Rescue Plan Act of 2021 ,
Borrowers ,
CARES Act ,
Certifications ,
Consolidated Appropriations Act (CAA) ,
Economic Aid Act ,
Information Requests ,
Loan Applications ,
Paycheck Protection Program (PPP) ,
Questionnaires ,
Required Documentation ,
SBA
Below are 10 important things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness Applications and the detailed instructions for the revised and updated applications posted on May 24, 2021, as well as...more
6/1/2021
/ Applications ,
Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
Economic Aid Act ,
Eligibility ,
Lenders ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Popular ,
Relief Measures ,
Required Documentation ,
Required Forms ,
SBA ,
Small Business
Unpacking the Economic Aid Act and American Rescue Plan Act: Consolidated First Draw PPP Interim Final Rule, New First Draw PPP Loans, and Increases to First Draw PPP Loans -
On January 6, 2021, the Small Business...more
5/6/2021
/ Borrowers ,
Certificate of Need ,
Coronavirus/COVID-19 ,
Economic Aid Act ,
Eligibility ,
Exclusions ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
Safe Harbors ,
SBA ,
Small Business
On January 6, 2021, the Small Business Administration (the “SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans” (“Second...more
5/6/2021
/ Applications ,
Borrowers ,
CARES Act ,
Certifications ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Economic Aid Act ,
Eligibility ,
Excluded Providers ,
Filing Deadlines ,
Loan Forgiveness ,
Loans ,
Paycheck Protection Program (PPP) ,
Popular ,
Relief Measures ,
Required Documentation ,
Safe Harbors ,
SBA ,
Small Business
Over the weekend, the Washington State Legislature passed a bill that would enact a tax on gains from the sale or exchange of certain capital assets. The bill, which was signed into law by Governor Jay Inslee on April 27,...more
The Coronavirus Aid, Relief, and Economic Security Act (as amended and modified, the “CARES Act”) was enacted to provide immediate assistance to individuals, families, and businesses affected by the COVID-19 emergency. Among...more
On January 6, 2021, the Small Business Administration (the “SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans” (“Second...more
Unpacking the Economic Aid Act and American Rescue Plan Act: Consolidated First Draw PPP Interim Final Rule, New First Draw PPP Loans, and Increases to First Draw PPP Loans -
On January 6, 2021, the Small Business...more
Unpacking the Economic Aid Act and American Rescue Plan Act: Consolidated First Draw PPP Interim Final Rule, New First Draw PPP Loans, and Increases to First Draw PPP Loans -
On January 6, 2021, the Small Business...more
3/30/2021
/ American Rescue Plan Act of 2021 ,
Borrowers ,
Certificate of Need ,
Coronavirus/COVID-19 ,
Economic Aid Act ,
Eligibility ,
Exclusions ,
Filing Deadlines ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Popular ,
Relief Measures ,
Safe Harbors ,
SBA ,
Small Business
On January 6, 2021, the Small Business Administration (the “SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans” (“Second...more
3/30/2021
/ American Rescue Plan Act of 2021 ,
Borrowers ,
Certificate of Need ,
Coronavirus/COVID-19 ,
Economic Aid Act ,
Eligibility ,
Exclusions ,
Filing Deadlines ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Popular ,
Relief Measures ,
Safe Harbors ,
SBA ,
Small Business
Unpacking the Economic Aid Act and American Rescue Plan Act: Consolidated First Draw PPP Interim Final Rule, New First Draw PPP Loans, and Increases to First Draw PPP Loans -
On January 6, 2021, the Small Business...more
3/25/2021
/ American Rescue Plan Act of 2021 ,
Borrowers ,
Certificate of Need ,
Coronavirus/COVID-19 ,
Economic Aid Act ,
Eligibility ,
Exclusions ,
Filing Deadlines ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
Safe Harbors ,
SBA ,
Small Business
On January 6, 2021, the Small Business Administration (the “SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans” (“Second...more
3/25/2021
/ American Rescue Plan Act of 2021 ,
Borrowers ,
Certificate of Need ,
Coronavirus/COVID-19 ,
Economic Aid Act ,
Eligibility ,
Exclusions ,
Filing Deadlines ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Popular ,
Relief Measures ,
Safe Harbors ,
SBA ,
Small Business
The Coronavirus Aid, Relief, and Economic Security Act (as amended and modified, the “CARES Act”) was enacted to provide immediate assistance to individuals, families, and businesses affected by the COVID-19 emergency. Among...more
3/25/2021
/ Amended Regulation ,
Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
Economic Aid Act ,
Eligibility ,
Interim Final Rules (IFR) ,
Loan Applications ,
Loan Forgiveness ,
New Legislation ,
Paycheck Protection Program (PPP) ,
Popular ,
Relief Measures ,
SBA ,
Small Business
Below are 10 important things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness Applications and the detailed instructions for the revised and updated applications posted on January 19, 2021, as well as...more
3/22/2021
/ Amended Regulation ,
CARES Act ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Documentation ,
Economic Aid Act ,
Loan Applications ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Payroll Expenses ,
Relief Measures ,
Salary/Wage History ,
SBA ,
Small Business
Unpacking the Economic Aid Act and American Rescue Plan Act: Consolidated First Draw PPP Interim Final Rule, New First Draw PPP Loans, and Increases to First Draw PPP Loans -
On January 6, 2021, the Small Business...more
3/18/2021
/ American Rescue Plan Act of 2021 ,
Borrowers ,
Certificate of Need ,
Coronavirus/COVID-19 ,
Economic Aid Act ,
Eligibility ,
Exclusions ,
Filing Deadlines ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
Safe Harbors ,
SBA ,
Small Business
On January 6, 2021, the Small Business Administration (the “SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans” (“Second...more
3/18/2021
/ American Rescue Plan Act of 2021 ,
Borrowers ,
Certificate of Need ,
Coronavirus/COVID-19 ,
Economic Aid Act ,
Eligibility ,
Exclusions ,
Filing Deadlines ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
Safe Harbors ,
SBA ,
Small Business
On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021 (the “Act”), the $1.9 trillion pandemic aid bill. The Act contains some limited changes to the Paycheck Protection Program (“PPP”) and...more
Starting around October 26, 2020, the Small Business Administrations (the “SBA”) asked Paycheck Protection Program (“PPP”) lenders to provide certain questionnaires to PPP borrowers with loans of $2 million or greater. There...more
3/15/2021
/ American Rescue Plan Act of 2021 ,
Borrowers ,
CARES Act ,
Certifications ,
Consolidated Appropriations Act (CAA) ,
Economic Aid Act ,
Information Requests ,
Loan Applications ,
Paycheck Protection Program (PPP) ,
Questionnaires ,
SBA
Protection Program (“PPP”) Loan Forgiveness Applications and the detailed instructions for the revised and updated applications posted on January 19, 2021, as well as other forgiveness procedures as updated by the Economic...more
3/4/2021
/ Amended Regulation ,
Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
Economic Aid Act ,
Eligibility ,
Interim Final Rules (IFR) ,
Loan Applications ,
Loan Forgiveness ,
New Legislation ,
Paycheck Protection Program (PPP) ,
Popular ,
Relief Measures ,
SBA ,
Small Business
Most Paycheck Protection Program (“PPP”) borrowers are working toward full forgiveness of their PPP loans and are anxious to get this process started. A borrower generally may submit a loan forgiveness application any time on...more
3/4/2021
/ CARES Act ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Employee Retention ,
Interim Final Rules (IFR) ,
Loan Applications ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
Small Business ,
Tax Credits
On February 22, 2021, the Biden-Harris Administration and the Small Business Administration (“SBA”) announced the taking of certain steps with the Paycheck Protection Program (“PPP”) to further promote equitable relief for...more
Unpacking the Economic Aid Act: Consolidated First Draw PPP Interim Final Rule, New First Draw PPP Loans, and Increases to First Draw PPP Loans (January 14, 2021) -
Late on January 6, 2021, the Small Business...more
2/19/2021
/ Applications ,
Borrowers ,
CARES Act ,
Certifications ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Eligibility ,
Exclusions ,
Filing Deadlines ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
New Legislation ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Required Documentation ,
SBA ,
Small Business