As Congress scrambles to craft the next phase of COVID-19 stimulus and relief legislation, both sides of the aisle appear to be in agreement on expanding the Paycheck Protection Program (PPP) to include more funds for small...more
The Paycheck Protection Program Flexibility Act (PPFA), passed by both houses as of June 3, makes significant changes to the Paycheck Protection Program affecting both new and existing loans, including reducing the amount of...more
On May 15, the SBA and Treasury released the long-awaited PPP loan forgiveness application and related guidance, providing much-needed clarity and ending weeks of speculation about how borrowers will obtain loan forgiveness....more
The Small Business Administration has clarified through newly-issued guidance that employees of foreign affiliates must be counted when determining the size of a business for eligibility under the Paycheck Protection Program....more
5/7/2020
/ Borrowers ,
CARES Act ,
Interim Final Rules (IFR) ,
IRS ,
Loan Forgiveness ,
Non-Profit Hospitals ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Safe Harbors ,
SBA ,
Small Business
Shortly after the passage of a bill injecting an additional $310 billion into the Small Business Administration’s Paycheck Protection Program, the SBA has issued another supplemental Interim Final Rule (IFR) providing new...more
The Stop Hacks and Improve Electronic Data Security Act (known as the SHIELD Act), signed into law by Governor Cuomo last year, comes into full effect on March 21, 2020. The Act’s expansive reach requires businesses in New...more