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 Small Business Administration’s latest guidance tells PPP lenders under what conditions they may approve changes of ownership involving PPP borrowers.
Standard PPP loan paperwork has required PPP borrowers to seek...more
10/6/2020
/ Borrowers ,
CARES Act ,
Change of Ownership ,
Escrow Accounts ,
Fair Market Value ,
Lenders ,
Loan Forgiveness ,
New Guidance ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
SBA
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
New law modifies the Paycheck Protection Program.
The President has signed into law the Paycheck Protection Program Flexibility Act of 2020 (Flexibility Act), which proposes to extend the period borrowers must spend the...more