Following the adoption of the Paycheck Protection Program Flexibility Act (PPP Flexibility Act), the Small Business Administration (SBA) has released a revised loan forgiveness application, a simplified loan forgiveness...more
On Thursday, June 11, 2020, the Small Business Administration (SBA) issued an update to its initial interim final rule on the Paycheck Protection Program (PPP), which was originally enacted as part of the CARES Act on March...more
On Wednesday evening, the U.S. Senate passed the Paycheck Protection Program Flexibility Act (the “Act”), which amends the CARES Act to provide businesses with greater flexibility in the use of PPP funds. President Trump...more
One week after issuing the long-awaited Paycheck Protection Program (PPP) Loan Forgiveness Application, summarized here, the Small Business Administration (SBA) issued two interim final rules on May 22, 2020 addressing loan...more
The Small Business Administration issued the long-awaited Paycheck Protection Program Loan Forgiveness Application (the “Application”) together with instructions (the “Instructions”), on May 15, 2020.
The Application...more
The Small Business Administration issued the long-awaited Paycheck Protection Program Loan Forgiveness Application (the “Application”), together with instructions (the “Instructions”), on May 15, 2020.
The Application...more
5/18/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Financial Stimulus ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
U.S. Treasury
The Treasury Department has released an update to its FAQs on the Paycheck Protection Program on the morning of May 13, 2020 to address the good-faith certification issue.
The full text of the new FAQ is below. In...more
In recent weeks in our respective practices in the US and the UK, we have seen unprecedented client interest in the urgent response of policy makers to the economic crisis in support of employers and jobs.
This article...more
Late on Tuesday, May 5, 2020, the US Treasury Department extended the deadline for a safe harbor repayment of PPP loan funding from May 7 to May 14 and promised additional guidance on how the Small Business Administration...more
The United States Senate passed a bill on Tuesday, April 21, to increase the $349 billion cap under the Paycheck Protection Program (PPP). The “Paycheck Protection Program and Health Care Enhancement Act” would add another...more
On March 27, President Trump signed the Coronavirus Aid, Relief and Economic Security (CARES) Act, a historic $2 trillion stimulus package to provide financial assistance to individuals and businesses. One of the most...more
The Small Business Administration (SBA) issued an interim final rule on Thursday, April 2, to facilitate implementation of the Paycheck Protection Program, one of the hallmarks of the CARES Act signed into law on Friday,...more