The U.S. Small Business Administration (the “SBA”) recently issued important new guidance (SBA Procedural Notice 5000‑812316, SBA Guaranty Purchases and Lender Servicing Responsibilities, effective July 15, 2021 (the “SBA...more
The Shuttered Venue Operators Grant (“SVO Grant”) program was established under Section 324 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the “Economic Aid Act”), enacted on December 27, 2020....more
The U.S. Small Business Administration (the “SBA”) recently provided important and long anticipated guidance on requirements and exceptions for SBA consent in certain “change of ownership” transactions involving companies...more
On June 3, 2020, the U.S. Senate passed a bill (the “PPP Flexibility Act”) that was also passed by the House of Representatives on May 28, 2020. It is expected that the President will sign the PPP Flexibility Act later this...more
On May 15, 2020, the Small Business Administration (the “SBA”) published a Loan Forgiveness Application (the “Forgiveness Application”),1 which provides long awaited information regarding loan forgiveness under the Paycheck...more
On May 18, 2020, the Small Business Administration (the “SBA”) published a new Interim Final Rule (the “New Foreign Affiliate Rule”) under the Paycheck Protection Program (the “PPP”), addressing the treatment of foreign...more
Small businesses that have been anxiously awaiting relief from the economic toll of COVID-19 and financial institutions participating in the Small Business Administration (“SBA”) 7(a) program now have important guidance from...more
On March 27, 2020, the President signed the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) into law. The CARES Act provides significant new funding to small businesses in the United States for the period...more