The U.S. Small Business Administration (SBA) will require Paycheck Protection Program (PPP) lenders to issue “loan necessity” questionnaires to all borrowers of PPP loans of $2 million of more. On October 26, 2020, the SBA...more
On October 2, 2020, the U.S. Small Business Administration (SBA) released a Procedural Notice (the Procedural Notice) that provides a framework to determine whether SBA consent is required for various changes of ownership of...more
10/12/2020
/ CARES Act ,
Change of Ownership ,
Coronavirus/COVID-19 ,
Corporate Sales Transactions ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Regulatory Requirements ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business
The Small Business Administration (SBA), in consultation with the Department of the Treasury (Treasury), recently released guidance with regard to the forgiveness of Paycheck Protection Program (PPP) loans in the form of...more
8/14/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Federal Loans ,
Financial Stimulus ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business
On June 5, 2020, the Paycheck Protection Program Flexibility Act of 2020 (Flexibility Act) was signed into law. The Flexibility Act provides important new flexibility to borrowers under the Paycheck Protection Program (PPP),...more
On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (CARES Act) was signed into law. The CARES Act is designed to distribute capital quickly and broadly to help alleviate the economic impact of COVID-19,...more