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
On May 13, 2020, one day before the expiration of the relevant “safe harbor” deadline, the Small Business Administration (SBA) issued new guidance to borrowers who have been considering whether to return their CARES Act...more
On May 5, 2020, the Small Business Administration (SBA) and the Treasury Department extended by one week the “safe harbor” for CARES Act Paycheck Protection Program (PPP) applicants to return their loans in the event that the...more
Under retroactive guidance issued by SBA and the Treasury Department on April 23, 2020, CARES Act Paycheck Protection Program (PPP) applicants must consider their access to alternative sources of liquidity before certifying...more
4/28/2020
/ Borrowers ,
CARES Act ,
Certification Requirements ,
Federal Register ,
Good Faith ,
Interim Final Rules (IFR) ,
Liquidity ,
New Guidance ,
Paycheck Protection Program (PPP) ,
SAFE ,
SBA ,
U.S. Treasury
SBA issues interim regulations and guidance on the Paycheck Protection Program, including confirmation of “affiliation” rules that may leave many companies affiliated with their investors and other businesses.
New Small...more
4/10/2020
/ Banks ,
Business Closures ,
Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Department of Health and Human Services (HHS) ,
Families First Coronavirus Response Act (FFCRA) ,
Federal Loans ,
Financial Stimulus ,
Lenders ,
Liquidity ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Relief
Guidance on eligibility for small business loans under the CARES Act.
Companies that have investments from venture capital (VC) and/or private equity (PE) funds, or that have raised funds under similar terms from corporate...more