The Small Business Association (SBA) issued guidance on Jan. 27, 2021 regarding the Shuttered Venue Operators Grant (SVOG), a grant program for struggling live, in-person industries, that was established in the recent...more
Update: Starting Monday, Jan. 11, 2021, the SBA will begin to accept First Draw PPP Loan applications only from community financial institutions. Starting Wednesday, Jan. 13, 2021, the SBA will begin to accept Second Draw...more
On Jan. 6, 2021, the Small Business Administration (SBA) issued guidance regarding the stimulus package’s Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (previously reported here), which continued the...more
Late Sunday night, Congress came to an agreement on a long-awaited second stimulus package. President Trump is expected to sign the highly anticipated $900 billion stimulus package in the coming days. Out of that total...more
The Small Business Association (SBA) has circulated Paycheck Protection Program (PPP) loan necessity questionnaire forms that it intends to require borrowers with PPP loans in excess of $2 million to complete. It is expected...more
As previously discussed, the Paycheck Protection Program (PPP) Flexibility Act established an additional safe harbor to the loan forgiveness reductions and full-time equivalent headcounts for the PPP. A borrower’s reduction...more
The U.S. Small Business Association (SBA) issued new guidance on June 22, 2020, providing further clarity to the Paycheck Protection Program (PPP) loan forgiveness process....more
In light of the passing of the Paycheck Protection Program (PPP) Flexibility Act (Flexibility Act) earlier this month, the Small Business Association (SBA) issued its highly anticipated guidance on June 17, 2020 pertaining to...more
On June 3, 2020, the Senate passed the Paycheck Protection Program (PPP) Flexibility Act of 2020 (the Flexibility Act) by unanimous consent. The Flexibility Act has received large bipartisan support and President Trump is...more
The U.S. Small Business Administration (SBA) recently issued the Paycheck Protection Program (PPP) Loan Forgiveness Application (the Application) along with an Interim Final Rule on Loan Forgiveness (the Forgiveness Final...more
The U.S. Small Business Administration (SBA) recently issued the Paycheck Protection Program (PPP) Loan Forgiveness Application (the Application). Available here, the highly anticipated Application provides important...more
As discussed in our prior memo, the Paycheck Protection Program (PPP) loan is now available to eligible small businesses, nonprofits, veterans’ organizations, tribal concerns, eligible self-employed individuals, independent...more