President Trump signed H.R. 7010 – the Paycheck Protection Program Flexibility Act (“PPPFA”) – into law on June 5, 2020. The PPPFA makes several sizable changes to the Paycheck Protection Program (“PPP”). This brief alert...more
The Small Business Administration has released much-anticipated guidance regarding forgiveness of Paycheck Protection Program (PPP) loans. This client alert is provided on May 26, 2020 and, as all participants in this loan...more
In answer to a question hanging over the PPP loan program since its inception, the SBA on May 18 offered a safe harbor to borrowers who did not originally count its foreign employees, and those of its affiliates, in its loan...more
For the many small and mid-size businesses impacted by the coronavirus pandemic, the recent CARES Act and other legislation adopted in earlier March 2020 offers businesses various resources for support to sustain business...more
The US Small Business Administration has added COVID-19 to the list of disasters triggering federal disaster loan assistance. As of March 18, 2020, neither North Carolina nor South Carolina is an eligible area for such...more
As anticipated, two recent Disaster Declarations (NC00115 and GA00116) have extended eligibility for the SBA Disaster Loan Program to the following counties. Note that contiguous counties in South Carolina, Tennessee,...more