The deadline to apply for a Paycheck Protection Program (PPP) loan is August 8, 2020. At this time, it appears that there is almost $130 billion in funds remaining available under the Paycheck Protection Program....more
On July 4, 2020, President Trump signed the bill extending availability under the Paycheck Protection Program (PPP) to August 8, 2020. As of June 30, 2020, there was over $130 billion in funds remaining available under the...more
On Friday, June 5, 2020, President Trump signed into law the Paycheck Protection Program Flexibility Act (“PPPFA”). The PPPFA amends the Paycheck Protection Program (“PPP”) under the Coronavirus Aid, Relief, and Economic...more
6/12/2020
/ CARES Act ,
Federal Loans ,
Joint Statements ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Payroll Taxes ,
Safe Harbors ,
SBA ,
SBA Lending Programs ,
Secretary of the Treasury
The U.S. Small Business Administration (SBA) recently issued an Interim Final Rule that confirms that when calculating the number of employees of an entity for purposes of determining eligibility for a PPP loan, an entity...more
As discussed in our previous client alerts, the SBA has released additional guidance on its review of the certification regarding the necessity of a PPP loan and extended the safe harbor to repay PPP loans to May 18, 2020. ...more
The SBA has released its Loan Forgiveness Application and Instructions for Borrowers, which provides the application and instructions for borrowers to calculate and submit their request to have all or a portion of their PPP...more
The U.S. Department of the Treasury recently updated their "Paycheck Protection Program Loans FAQ" with guidance extending the time frame to take advantage of the safe harbor to repay PPP loans to May 18, 2020....more
The U.S. Department of the Treasury recently updated their "Paycheck Protection Program Loans FAQ" with guidance regarding its review of a borrowers’ required good-faith certification concerning the necessity of their loan...more
The U.S. Department of the Treasury recently updated their “Paycheck Protection Program Loans FAQ” with guidance extending the time frame to take advantage of the safe harbor to repay PPP loans to May 14, 2020, and clarifying...more