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SBA Issues Procedural Notice Regarding Approval of Changes of Ownership of PPP Borrowers

On October 2, the Small Business Administration (SBA) issued an important Procedural Notice clearing the way for dealmakers to begin closing M&A transactions involving targets with outstanding Paycheck Protection Program...more

SBA Releases New Guidance on PPP Loan Forgiveness

On August 4, the Small Business Administration (SBA) released new FAQs related to Paycheck Protection Program (PPP) loan forgiveness. The FAQs provide interpretive guidance regarding PPP loan forgiveness applications,...more

Key Takeaways from Manufacturing Dealmaker Perspectives Webinar

The sudden arrival of the COVID-19 pandemic in the first quarter of 2020 shocked an M&A market that was riding high coming into the year, and in many ways, the impact of the novel coronavirus on M&A deals is still just coming...more

President Trump Signs Paycheck Protection Program Flexibility Act

President Trump today signed into law the Paycheck Protection Program Flexibility Act of 2020 (PPP Flexibility Act), which was passed by the House of Representatives last week and by the Senate on Wednesday night. The PPP...more

SBA Issues Additional Guidance Regarding PPP Loan Forgiveness and PPP Loan Review Process

The Small Business Administration (SBA) issued two interim final rules on May 22 providing, respectively, additional clarifications regarding Paycheck Protection Program (PPP) loan forgiveness (the Forgiveness Rule) and...more

SBA Releases PPP Loan Forgiveness Application and Issues Formal Guidance Regarding PPP Loan Forgiveness

This alert, originally published May 19, 2020, was updated to reflect further guidance issued by the SBA on May 22, 2020 regarding PPP loan forgiveness. The Small Business Administration (SBA) has released the first major...more

SBA Issues Additional Guidance on “Need” Certification, Extends Safe Harbor Date to May 18

Just one day before the May 14 safe harbor date for borrowers to repay loans under the Paycheck Protection Program (PPP), the Small Business Administration (SBA) issued additional guidance regarding the good faith “need”...more

Overview of New SBA and IRS Guidance Regarding Paycheck Protection Program, Including the “Need” Certification and PPP Loan...

This alert has been updated to reflect further guidance issued by the Small Business Administration (SBA) on May 5, 2020 indicating that forthcoming rule changes will extend the repayment date for the safe harbor discussed...more

Main Street Lending Program 2.0 Expands Loan Options for Small and Mid-Sized Businesses, but Practical Accessibility of Program to...

On April 9, the U.S. Treasury Department (Treasury) and Federal Reserve released initial details regarding the establishment of the Main Street Business Lending Program (Main Street Program) to provide up to $600 billion in...more

Senate Approves $380 Billion Expansion of CARES Act Small Business Loan Programs

In an effort to dramatically expand the amount of aid made available to small businesses under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the U.S. Senate yesterday approved over $320 billion in additional...more

Treasury and Fed Announce Details of $600 Billion Main Street Business Lending Program for Small and Mid-Sized Businesses

The U.S. Treasury Department (Treasury) and Federal Reserve have released much-anticipated details regarding the establishment of a Main Street Business Lending Program (Main Street Program) to provide up to $600 billion in...more

Are You an Affiliate? Guidance for Physician Practice Management Companies under the Paycheck Protection Program

With the much-anticipated release of the Small Business Administration (SBA) Interim Final Rule on affiliation under the Paycheck Protection Program (PPP) late on April 3, those waiting with bated breath for any clarification...more

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