A recent article in the Wall Street Journal highlights renewed talk in some circles about allegedly “growing evidence” of fraud among PPP participants. We think the observation of the former federal prosecutor who is quoted...more
The Small Business Administration’s (“SBA”) release of an Interim Final Rule on loan forgiveness and an Interim Final Rule on SBA loan review procedures, each under the Paycheck Protection Program (“PPP”), add additional...more
The Small Business Administration’s (“SBA”) release of its official loan forgiveness application under the Paycheck Protection Program (“PPP,” Section 1102 of the CARES Act) answered a number of questions that borrowers and...more
The Coronavirus Aid, Relief, and Economic Security, or “CARES Act” - the third emergency bill that Congress has prepared in response to the Coronavirus (COVID-19) pandemic - was signed into law Friday, March 27, 2020. ...more
The Paycheck Protection Program (PPP) has seen extraordinary demand since the passage of the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act on March 27, 2020. Prior to the PPP going live just days later on April...more
A small business investment company (“SBIC”) is an investment company that is licensed and regulated by the Small Business Administration (“SBA”). The SBA lends low-cost, government-backed capital to SBICs, which SBICs may...more