News & Analysis as of

Borrowers Loan Applications

Hudson Cook, LLP

[Webinar] Compliance Coffee Break - ECOA and/or Fair Lending - June 10th, 2:00 pm - 2:30 pm ET

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Please join Hudson Cook partners Trisha Cacciola and Patty Covington for an update on the current state of ECOA and fair lending regulation under the new administration....more

Morris, Manning & Martin, LLP

What SBA Borrowers Need to Know: Lender Expectations for Corporate and Purchase Documentation

Every loan application requires borrowers to provide a substantial amount of information about the business and its owners. When applying for a loan that is guaranteed by the U.S. Small Business Administration (SBA), you can...more

McDermott Will & Emery

PPP Loan Appeals, SBA Clawbacks and More: What You Need to Know

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Last year, we published an article titled “What to Do if Your PPP Forgiveness Application Is Denied.” Today, we share some insights into the Paycheck Protection Program (PPP) and appeals process based on our representation of...more

McDermott Will & Emery

What to Do if Your PPP Forgiveness Application Is Denied

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The Small Business Administration’s (SBA) public data indicates that more than 98% of the total Paycheck Protection Program (PPP) loan value requested to be forgiven by borrowers has been forgiven by the SBA (approximately...more

Schwabe, Williamson & Wyatt PC

PPP Loans Over $2 Million and the PPP Necessity Questionnaires - Update #3

Starting around October 26, 2020, the Small Business Administrations (the “SBA”) asked Paycheck Protection Program (“PPP”) lenders to provide certain questionnaires to PPP borrowers with loans of $2 million or greater. There...more

Schwabe, Williamson & Wyatt PC

First Draw PPP Loans $2 Million and Up and the PPP Necessity Questionnaires - Update

Starting around October 26, 2020, the Small Business Administrations (the “SBA”) asked Paycheck Protection Program (“PPP”) lenders to provide certain questionnaires to PPP borrowers with loans of $2 million or greater. There...more

Tonkon Torp LLP

The Impact Of PPP Loans, One Year Later

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When the federal Paycheck Protection Program (PPP) was announced in March 2020, we worked with many of our business clients to secure a PPP loan in the first, fastest, and most competitive round of lending by the Small...more

Schwabe, Williamson & Wyatt PC

PPP Ineligibility Update: Businesses Ineligible for First Draw and Second Draw PPP Loans - Update

The Coronavirus Aid, Relief, and Economic Security Act (as amended and modified, the “CARES Act”) was enacted to provide immediate assistance to individuals, families, and businesses affected by the COVID-19 emergency. Among...more

Gould + Ratner LLP

American Rescue Plan Act Expands PPP’s Reach

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Eligible borrower application deadline is March 31, 2021 - The voluminous, $1.9 trillion American Rescue Plan Act (ARPA) signed into law earlier this month, provides a couple of key modifications to the Paycheck...more

Jackson Walker

Applying for PPP Loan Before March 31st Deadline

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Time is of the essence for businesses to apply for relief from the Paycheck Protection Program. Jackson Walker finance partners Lindsey Berwick and John Wittenberg join hosts Art Cavazos and Daniel Maldonado to discuss the...more

Hinshaw & Culbertson LLP

PPP Updates: Calculation of the Loan Amount and Use of Loan Proceeds for Individuals Who File IRS Form 1040, Schedule C and...

On March 3, 2021, the Small Business Administration (SBA), in conjunction with the U.S. Department of the Treasury, adopted an interim final rule (IFR) that: (1) allows individuals who file an IRS Form 1040, Schedule C to...more

Schwabe, Williamson & Wyatt PC

First Draw PPP Loans $2 Million and Up and the PPP Necessity Questionnaires

Starting around October 26, 2020, the Small Business Administrations (the “SBA”) asked Paycheck Protection Program (“PPP”) lenders to provide certain questionnaires to PPP borrowers with loans of $2 million or greater. There...more

Goodwin

SEC Releases 2021 Examination Priorities

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In this Issue. The U.S. Securities and Exchange Commission (SEC) Division of Examinations released its 2021 Examination Priorities and issued a risk alert noting that “Digital Asset Securities” entail characteristics and...more

McGlinchey Stafford

[Webinar] Updates to the Paycheck Protection Program & Other Issues - March 18th, 2:00 pm ET

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Join us on Thursday, March 18 for the second installment in our 3-Part webinar series on the Paycheck Protection Program and formulate your game-plan before you apply for forgiveness. McGlinchey attorneys Richard Aguilar,...more

Schwabe, Williamson & Wyatt PC

Asking for Forgiveness: Revised PPP Loan Forgiveness Applications and Guidance - Update #2

Protection Program (“PPP”) Loan Forgiveness ‎Applications and the detailed instructions for the revised and updated applications posted on January 19, 2021, ‎as well as other forgiveness procedures as updated by the Economic...more

Bowditch & Dewey

New PPP Funding Hits the Streets – A Primer on What Businesses Should Know

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Struggling businesses adversely impacted by the COVID-19 pandemic now have access to a second round of Paycheck Protection Program (“PPP”) stimulus funding enacted as part of the Economic Aid to Hard Hit Small Businesses,...more

K&L Gates LLP

HUB Talks: Voluntary Disclosure: Deep Dive - They Know What You Did Last Summer—Phase 1 of the U.S. Government's Response to the...

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In this first episode of our series on the government's response to the Paycheck Protection Program, white collar practitioners Chris Nasson, David Rybicki, Neil Smith, and Hayley Trahan-Liptak provide an overview of the...more

Farella Braun + Martel LLP

[Webinar] New Round of PPP Loans: What Nonprofits Need to Know - February 25th, 3:30 pm - 5:30 pm PT

The Paycheck Protection Program (PPP) is a lifeline for nonprofits and other businesses that are struggling to survive during the pandemic. Round 3, now rolling out, includes updated forgiveness and tax rules, and is...more

McGlinchey Stafford

[Webinar] What to know about PPP loan forgiveness - February 18th, 1:00 pm CT

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You certified your eligibility for the PPP (Paycheck Protection Program), calculated the amount of your loan, and submitted your application. Your loan was approved and funded, and you used the loan proceeds for allowable...more

Harris Beach Murtha PLLC

Paycheck Protection Program – Common Questions and Updated Guidance

The Paycheck Protection Program has been seen as a lifeline for many businesses nationwide. Josh Steele, a partner in the Harris Beach Labor & Employment group and CARES Act team member has counseled clients throughout the...more

Schwabe, Williamson & Wyatt PC

What to Know about PPP Appeals and Next Steps - After the Economic Aid Act: An Updated Guide to the PPP Loan Forgiveness Review...

With recent updates to the Paycheck Protection Program (“PPP”) due to the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the “Economic Aid Act” or “PPP2 Act”), new forgiveness application forms, and...more

Schwabe, Williamson & Wyatt PC

Grounds for SBA Review, the SBA Loan Review Process, and Borrower Items - After the Economic Aid Act: An Updated Guide to the PPP...

There are a few things to keep in mind in regard to the Small Business Administration (the “SBA”) and the Paycheck Protection Program (“PPP”) loan forgiveness review process. Adding on to the initial PPP funding, the...more

Schwabe, Williamson & Wyatt PC

PPP Ineligibility Update: Businesses Ineligible for First Draw and Second Draw PPP Loans

The Coronavirus Aid, Relief, and Economic Security Act (as amended and modified, the “CARES Act”) was enacted to provide immediate assistance to individuals, families, and businesses affected by the COVID-19 emergency. Among...more

Schwabe, Williamson & Wyatt PC

Economic Aid Act: 10 Things to Know about Second Draw PPP Loans

Late on January 6, 2021, the Small Business Administration (the “SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans”...more

Wiley Rein LLP

PPP Loan Program Re-Opens

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As we recently detailed, on January 6, 2021, the Small Business Administration (SBA) issued two Interim Final Rules (first rule and second rule) setting forth the regulations for the newly authorized round of PPP funding,...more

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