Most Paycheck Protection Program (“PPP”) borrowers are working toward full forgiveness of their PPP loans and are anxious to get this process started. A borrower generally may submit a loan forgiveness application any time on...more
12/3/2020
/ Asset Transfer ,
Borrowers ,
CARES Act ,
Change of Ownership ,
Coronavirus/COVID-19 ,
Loan Forgiveness ,
Mergers ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Payroll Expenses ,
Popular ,
Questionnaires ,
Relief Measures ,
Required Documentation ,
Safe Harbors ,
SBA ,
SBA Lending Programs ,
Tax Deferral
Most Paycheck Protection Program (“PPP”) borrowers are working toward full forgiveness of their PPP loans and are anxious to get this process started. A borrower generally may submit a loan forgiveness application any time on...more
11/9/2020
/ Asset Transfer ,
Borrowers ,
CARES Act ,
Change of Ownership ,
Coronavirus/COVID-19 ,
Loan Forgiveness ,
Mergers ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Payroll Expenses ,
Popular ,
Questionnaires ,
Relief Measures ,
Required Documentation ,
Safe Harbors ,
SBA ,
SBA Lending Programs ,
Tax Deferral
Starting around October 26, 2020, the Small Business Administrations (the “SBA”) asked some Paycheck Protection Program (“PPP”) lenders to provide certain questionnaires to PPP borrowers with loans over $2 million. The...more
The Federal Reserve Bank of Boston announced on July 6, 2020, that the Main Street Lending Program (“Main Street Program” or “Program”) is now fully operational and ready to purchase participation in eligible loans that are...more
11/9/2020
/ Borrowers ,
CARES Act ,
Certifications ,
Coronavirus/COVID-19 ,
Eligibility Determination ,
Federal Reserve ,
For-Profit Corporations ,
Main Street Expanded Loan Facility ,
Main Street Lending Programs ,
Main Street Priority Loan Facility ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Primary Market Corporate Credit Facility (PMCCF)
Below are the ten important things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness Applications and the detailed instructions for the applications posted on June 16, 2020, and October 8, 2020. There are...more
11/9/2020
/ Borrowers ,
CARES Act ,
Compensation & Benefits ,
Eligibility ,
Executive Compensation ,
FTEs ,
Interim Final Rules (IFR) ,
Loan Applications ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Payroll Expenses ,
SBA ,
Seasonal Workers ,
Small Business
Below are the ten important things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness Applications and the detailed instructions for the applications posted on June 16, 2020, and October 8, 2020. There are...more
10/12/2020
/ Applications ,
CARES Act ,
Coronavirus/COVID-19 ,
Eligibility ,
Executive Compensation ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Payroll Expenses ,
Relief Measures ,
Retirement ,
SBA ,
Seasonal Workers ,
Small Business ,
Small Business Loans
Most Paycheck Protection Program (“PPP”) borrowers are working toward full forgiveness of their PPP loans and are anxious to get this process started. A borrower generally may submit a loan forgiveness application any time on...more
10/12/2020
/ CARES Act ,
Change of Ownership ,
Coronavirus/COVID-19 ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Payroll Expenses ,
Relief Measures ,
Required Documentation ,
Safe Harbors ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Deferral
Most Paycheck Protection Program (“PPP”) borrowers are working toward full forgiveness of their PPP loans and are anxious to get this process started. A borrower generally may submit a loan forgiveness application any time on...more
10/5/2020
/ Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Relief Measures ,
Safe Harbors ,
SBA ,
SBA Lending Programs ,
Small Business ,
Time Extensions
Below are the top ten things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness Applications and the detailed instructions for the applications posted on June 16, 2020. There are two forms and two sets of...more
8/28/2020
/ Applications ,
Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
Employer Group Health Plans ,
FTEs ,
Loan Forgiveness ,
New Guidance ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Retirement Plan ,
Safe Harbors ,
SBA ,
Seasonal Workers
On August 4, 2020, the Federal Reserve presented on the use of the Main Street Lending Program by Tribal Entities (as defined below). While the presentation was in large part a summary of the already well-known components of...more
Below are the top ten things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness Applications and the detailed instructions for the applications posted on June 16, 2020. There are two forms and two sets of...more
8/20/2020
/ Applications ,
Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
Employer Group Health Plans ,
FTEs ,
Loan Forgiveness ,
New Guidance ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Retirement Plan ,
Safe Harbors ,
SBA ,
Seasonal Workers
Below are the top ten things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness Applications and the detailed instructions for the applications posted on June 16, 2020. There are two forms and two sets of...more
8/12/2020
/ Applications ,
Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
Employer Group Health Plans ,
FTEs ,
Loan Forgiveness ,
New Guidance ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Retirement Plan ,
Safe Harbors ,
SBA ,
Seasonal Workers
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
8/12/2020
/ CARES Act ,
Construction Industry ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Families First Coronavirus Response Act (FFCRA) ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Main Street Lending Programs ,
Midsize and Large Business Loans ,
Pandemic Unemployment Assistance (PUA) ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Real Estate Market ,
Safe Harbors ,
SBA ,
Tax Credits
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
8/12/2020
/ Applications ,
CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Families First Coronavirus Response Act (FFCRA) ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Main Street Lending Programs ,
Manufacturing Facilities ,
Midsize and Large Business Loans ,
Pandemic Unemployment Assistance (PUA) ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Retail Market ,
SBA ,
Tax Credits
Most Paycheck Protection Program (“PPP”) borrowers are working toward full forgiveness of their PPP loans and are anxious to get this process started. A borrower may submit a loan forgiveness application any time on or before...more
8/10/2020
/ Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
Loan Applications ,
Loan Forgiveness ,
New Guidance ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Safe Harbors ,
SBA ,
Small Business Loans
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
8/10/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Families First Coronavirus Response Act (FFCRA) ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Main Street Lending Programs ,
Midsize and Large Business Loans ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
SBA ,
Small Business ,
Technology Sector
The Federal Reserve Bank of Boston announced on July 6, 2020, that the Main Street Lending Program (“Main Street Program” or “Program”) is now fully operational and ready to purchase participation in eligible loans that are...more
7/30/2020
/ CARES Act ,
Certifications ,
Coronavirus/COVID-19 ,
Federal Reserve ,
For-Profit Corporations ,
Main Street Expanded Loan Facility ,
Main Street Lending Programs ,
Main Street Priority Loan Facility ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Primary Market Corporate Credit Facility (PMCCF)
Below are the top ten things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness Applications and the detailed instructions for the applications posted on June 16, 2020. There are two forms and two sets of...more
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
7/16/2020
/ CARES Act ,
Construction Industry ,
Economic Injury Disaster Loans ,
Families First Coronavirus Response Act (FFCRA) ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Main Street Lending Programs ,
Midsize and Large Business Loans ,
Pandemic Unemployment Assistance (PUA) ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Real Estate Market ,
Safe Harbors ,
SBA ,
Tax Credits
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
7/15/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Families First Coronavirus Response Act (FFCRA) ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Main Street Lending Programs ,
Manufacturing Facilities ,
Midsize and Large Business Loans ,
Pandemic Unemployment Assistance (PUA) ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Retail Market ,
SBA ,
Tax Credits
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
7/8/2020
/ CARES Act ,
Certifications ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Families First Coronavirus Response Act (FFCRA) ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Main Street Lending Programs ,
Manufacturers ,
Midsize and Large Business Loans ,
NAICS ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Paycheck Protection Program Lending Facility (PPPL Facility) ,
Paycheck Protection Program Lending Facility (PPPLF) ,
Payroll Taxes ,
Retail Market ,
Retailers ,
Safe Harbors ,
SBA ,
Tax Credits ,
Tax Deferral
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
7/8/2020
/ CARES Act ,
Construction Industry ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Families First Coronavirus Response Act (FFCRA) ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Main Street Lending Programs ,
Midsize and Large Business Loans ,
Pandemic Unemployment Assistance (PUA) ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Real Estate Market ,
Safe Harbors ,
SBA ,
Tax Credits
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
7/8/2020
/ Applications ,
CARES Act ,
Coronavirus/COVID-19 ,
Families First Coronavirus Response Act (FFCRA) ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Main Street Lending Programs ,
Midsize and Large Business Loans ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Payroll Taxes ,
SBA ,
Small Business Loans ,
Tax Credits ,
Technology Sector ,
U.S. Treasury
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
7/2/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Families First Coronavirus Response Act (FFCRA) ,
Federal Reserve ,
Interim Final Rules (IFR) ,
Main Street Expanded Loan Facility ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Main Street Priority Loan Facility ,
Manufacturers ,
Midsize and Large Business Loans ,
Net Operating Losses ,
Pandemic Unemployment Assistance (PUA) ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Retailers ,
SBA ,
Small Business ,
Small Business Loans ,
Tax Credits ,
U.S. Treasury
On June 15, 2020, the Federal Reserve announced the launch of its Main Street Lending Program (“Main Street Program” or “Program”) under the CARES Act. This Program was created to provide up to $600 billion in liquidity to...more
7/2/2020
/ CARES Act ,
Certifications ,
Coronavirus/COVID-19 ,
EBITDA ,
Federal Reserve ,
Main Street Expanded Loan Facility ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Main Street Priority Loan Facility ,
Paycheck Protection Program (PPP) ,
Primary Market Corporate Credit Facility (PMCCF) ,
SBA ,
U.S. Treasury