On May 20, 2020, the U.S. Court of Appeals for the Seventh Circuit sided with a lower court which invalidated applying the “Ineligibility Rule” by the Small Business Administration (SBA) to the Paycheck Protection Program...more
In a significant rebuke of the Small Business Administration (SBA), a Michigan federal district court has rejected the SBA’s attempt to deem a number of applicants, including sexually oriented dance clubs, ineligible for...more
5/21/2020
/ Administrative Procedure Act ,
Amended Complaints ,
CARES Act ,
Chevron Deference ,
Congressional Intent ,
Coronavirus/COVID-19 ,
Eligibility ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Preliminary Injunctions ,
SBA Lending Programs
On April 30, the Federal Reserve Board, after receiving more than 2,200 letters in response to a request for feedback on its Main Street Lending Program, announced an expansion of the scope of and eligibility for the program....more