In a previous client alert, we had advised you of issues facing a purchaser of a business which had received a Paycheck Protection Plan (PPP) loan.
PPP loans are Small Business Administration (SBA) Section 7(a) loans....more
10/9/2020
/ Acquisitions ,
Buyers ,
Change of Ownership ,
Lenders ,
Mergers ,
New Guidance ,
Notice Requirements ,
Paycheck Protection Program (PPP) ,
SBA ,
Sellers ,
Small Business Loans
The Small Business Administration (SBA) and the U.S. Department of the Treasury released an Interim Final Rule on Paycheck Protection Program (PPP) Loan Forgiveness and the PPP Loan Forgiveness Application....more
On May 7, 2020, the IRS issued Notice 2020-32 to provide guidance concerning the deductibility for Federal income tax purposes of otherwise deductible expenses incurred in a taxpayer’s trade or business when the taxpayer...more
The CARES Act established the Paycheck Protection Program ("PPP" or "Program"), which provides nearly $350 billion in forgivable loans designed to keep workers employed during the COVID-19 crisis. In this alert, we are...more
4/15/2020
/ Borrowers ,
Economic Injury Disaster Loans ,
Lenders ,
Loan Agreements ,
Loan Applications ,
Loan Forgiveness ,
Main Street Lending Programs ,
New Guidance ,
Paycheck Protection Program (PPP) ,
Popular ,
SBA