On January 8, 2021, the U.S. Small Business Administration (“SBA”), in consultation with the Department of Treasury, announced the re-opening of the Paycheck Protection Program (“PPP”) to first-time borrowers and certain...more
The Federal Reserve recently expanded its Main Street Lending Program (the “Program”) to three separate loan facilities: the Main Street New Loan Facility, the Main Street Priority Loan Facility and the Main Street Expanded...more
On June 5, 2020, the President signed the Paycheck Protection Program Flexibility Act of 2020 (the “Act”), a bipartisan measure aimed at providing additional flexibility and extended relief to small business borrowers under...more
On Friday, May 15, 2020, the Small Business Administration (“SBA”) released the Paycheck Protection Program Loan Forgiveness Application (the “Application”) and instructions (the “Instructions”), which, together with...more
The Small Business Administration (“SBA”) has further updated its Frequently Asked Questions (“FAQs”) regarding implementation of the Paycheck Protection Program (“PPP”), to extend the repayment date for purposes of the safe...more
On May 13, 2020, the Small Business Administration (“SBA”), in consultation with the Department of Treasury, updated its Frequently Asked Questions (“FAQs”) regarding implementation of the Paycheck Protection Program (“PPP”),...more
On April 23, 2020, the Small Business Administration (“SBA”), in consultation with the Department of Treasury, released supplemental guidance in the form of Frequently Asked Questions (“FAQs”) with respect to the...more
As small businesses attempt to navigate the Paycheck Protection Program and other available federal relief, mid-sized businesses have awaited guidance on the Main Street Lending Program (the “Program”) and related corporate...more
The Small Business Administration (“SBA”) has released Interim Final Rules (“Rules”) regarding implementation of the Paycheck Protection Program (“PPP”) under the CARES Act. These Rules are intended to provide guidance to...more