The Small Business Administration (SBA) recently issued a Procedural Notice (the Notice) containing details about the required procedure that Paycheck Protection Program borrowers (PPP borrowers) must follow when engaging in...more
10/7/2020
/ Borrowers ,
Change of Ownership ,
Common Stock ,
Escrow Accounts ,
Fair Market Value ,
Loan Forgiveness ,
New Guidance ,
Ownership Interest ,
Paycheck Protection Program (PPP) ,
SBA ,
Stock Transfer
This afternoon, the Small Business Administration (SBA) and the Treasury Department published a set of frequently asked questions concerning forgiveness of loans under the Paycheck Protection Program (PPP). The new FAQs...more
8/5/2020
/ Borrowers ,
C-Corporation ,
CARES Act ,
Independent Contractors ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
S-Corporation ,
SBA ,
Self Employed ,
Sole Proprietorship ,
U.S. Treasury
The Small Business Administration (SBA) and the Treasury Department have issued additional regulations implementing the Paycheck Protection Program Flexibility Act. Most of the adjustments are merely “clean up” changes to...more
Late on June 10, 2020, the Small Business Administration (SBA) and Treasury Department issued the 17th “interim final rule,” providing the initial regulations to implement the Paycheck Protection Program Flexibility Act...more
6/11/2020
/ Borrowers ,
CARES Act ,
Certifications ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Popular ,
SBA ,
Small Business ,
Small Business Loans ,
U.S. Treasury
The Federal Reserve has released additional information for potential lenders and borrowers on the Main Street Lending Program (the Program), including updated frequently asked questions (FAQs) and operational documents. The...more
As has become a theme, late Friday night, the Small Business Administration (SBA) and the Treasury Department issued two sets of guidance relative to forgiveness of the Paycheck Protection Program (PPP) loan proceeds. In the...more
Late Friday night, the Small Business Administration (SBA) released its first phase of long-awaited guidance to assist borrowers and lenders with calculating and applying for the forgiveness of loans issued by the SBA under...more
On May 13, 2020, the Treasury Department issued much-needed guidance for borrowers still considering whether they should return loan funds received under the Paycheck Protection Program (PPP). In recent FAQs, the Department...more
Last week, the Federal Reserve updated the terms of its Main Street Lending Program (MSLP) with its first set of guidance to expand the scope of available loan options and the pool of eligible borrowers. You can find our...more