The final rule, which takes effect January 16, 2025, could significantly affect small and large businesses considering any merger and acquisition (M&A) activity—and timing will be critical.
In a major change, contractors...more
The Small Business Administration has issued a direct final rule requiring that Service-Disabled Veteran-Owned Small Businesses be certified by its VetCert program in order for agencies and prime contractors to receive credit...more
In the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Extension Act of 2022, Congress reauthorized these programs for another three years and added new requirements to reduce foreign...more
1/6/2023
/ China ,
Conflicts of Interest ,
Due Diligence ,
Foreign Entities ,
Iran ,
National Security ,
North Korea ,
Reporting Requirements ,
Russia ,
SBA ,
SBIRs ,
STTR ,
Venture Capital
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
Two recent Office of Hearings and Appeals (OHA) rulings provide much needed guidance as to whether a letter of intent (LOI) will create an affiliation, potentially rendering a small business ineligible to bid on small...more
On June 21, 2013, the government issued an interim rule amending the Federal Acquisition Regulation (“FAR”) to remove the dollar limits on contracts that may be set aside for Women-Owned Small Businesses (“WOSB”) and...more