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New Payment Protection Program Rule Regarding Foreign Affiliates Complicates Eligibility Analysis for Borrowers

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 Business Administration Rolls Out Details for $349 Billion Paycheck Protection Program

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

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