The Small Business Administration’s questionnaires request information related not only to the economic condition of the borrower at the time it received the PPP loan, but also about its economic experience after receiving...more
11/3/2020
/ Borrowers ,
CARES Act ,
Good Faith ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Publicly-Traded Companies ,
Questionnaires ,
SBA ,
Small Business ,
Small Business Loans ,
U.S. Treasury
The SBA has continued its wave of regulations and guidance as PPP borrowers begin to apply for loan forgiveness.
New regulations address nuanced, but important, issues such as “owner-employee” compensation and the...more
8/28/2020
/ C-Corporation ,
CARES Act ,
Full-Time Employees ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
New Guidance ,
New Regulations ,
Owner-Employee Compensation ,
Paycheck Protection Program (PPP) ,
Pending Legislation ,
S-Corporation ,
SBA ,
Small Business
Considerations for PPP borrowers as they apply for loan forgiveness -
As the Paycheck Protection Program (PPP) enters its forgiveness phase—where many borrowers have exhausted or are about to exhaust their loans and will...more
The new Interim Final Rule amends SBA’s existing regulations to account for the provisions of the Paycheck Protection Program Flexibility Act of 2020 (Flexibility Act), signed into law on June 5, 2020.
Importantly, the...more
On May 22, 2020, the Small Business Administration (SBA) issued its interim final rule on loan forgiveness. The rule describes, in a question-and-answer format, the mechanics of applying for and receiving loan forgiveness...more