This week the U.S. Small Business Administration (SBA) released updated Paycheck Protection Program (PPP) interim final rules which incorporate new requirements imposed by the Economic Aid to Hard-Hit Small Businesses,...more
Last week, the U.S. District Court for the Northern District of Florida ruled in favor of SBA lenders with respect to the treatment of “agent fees” under the Paycheck Protection Program (PPP)....more
During hearings before the House of Representatives on June 30, 2020, Representative Steve Stivers (R-OH), asked Treasury Secretary Mnuchin about financial institution’s payment of agent fees as part of the Paycheck...more
The Small Business Administration (“SBA”) recently issued a formal Paycheck Protection Program (“PPP”) Loan Forgiveness Application. We will highlight a number of key elements of the application. Additionally, we will review...more
5/22/2020
/ CARES Act ,
Compliance ,
Coronavirus/COVID-19 ,
Financial Services Industry ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
SBA ,
SBA Lending Programs ,
Secretary of the Treasury ,
Small Business ,
Webinars
The Office of the Comptroller of the Currency (OCC) released “OCC Bulletin 2020-44” which encourages institutions to “prudently document their implementation and lending decisions” under the Small Business Administration's...more