News & Analysis as of

Business Necessity Small Business Administration

Schwabe, Williamson & Wyatt PC

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

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

Morgan Lewis

PPP: SBA Announces New Loan Necessity Questionnaires

Morgan Lewis on

The Small Business Administration recently announced new questionnaires for purposes of gathering information from borrowers related to the economic necessity certification under the Paycheck Protection Program....more

Manatt, Phelps & Phillips, LLP

Did You Really Need That PPP Loan? The SBA Wants to Know

Without much fanfare, the Small Business Administration (SBA) has started investigating borrowers of larger Paycheck Protection Program (PPP) loans to obtain information about their business activities. The SBA has asked...more

Levenfeld Pearlstein, LLC

SBA Addresses Economic Necessity Certification in Draft PPP Questionnaires for Certain Borrowers

The SBA recently released draft questionnaires for Paycheck Protection Program (PPP) borrowers with loans above $2 million. The draft questionnaire addresses the economic necessity certification that has caused heartburn for...more

Tonkon Torp LLP

Was My PPP Loan Necessary (In Hindsight)? SBA Seeks Additional Information From PPP Borrowers With Loans Of $2 Million Or More

Tonkon Torp LLP on

On the roller coaster ride that is the interpretation of the Paycheck Protection Program (“PPP”) by the U.S. Small Business Administration (“SBA”), on October 26th, the SBA issued a notice to the Office of Management and...more

Schwabe, Williamson & Wyatt PC

Key Considerations for PPP Documentation - Update #4

Borrowers under the Small Business Administration’s (“SBA”) Paycheck Protection Program (“PPP”) are required to either maintain or submit to lenders and the SBA certain documentation associated with their application for and...more

Schwabe, Williamson & Wyatt PC

Key Considerations for PPP Documentation - Update #3

Borrowers under the Small Business Administration’s (“SBA”) Paycheck Protection Program (“PPP”) are required to either maintain or submit to lenders and the SBA certain documentation associated with their application for and...more

Schwabe, Williamson & Wyatt PC

Key Considerations for PPP Documentation - Update #2

Borrowers under the Small Business Administration’s (“SBA”) Paycheck Protection Program (“PPP”) are required to either maintain or submit to lenders and the SBA certain documentation associated with their application for and...more

Schwabe, Williamson & Wyatt PC

Key Considerations for PPP Documentation - Update

Borrowers under the Small Business Administration’s (“SBA”) Paycheck Protection Program (“PPP”) are required to either maintain or submit to lenders and the SBA certain documentation associated with their application for and...more

Rosenberg Martin Greenberg LLP

Best Practices for PPP Loan Forgiveness

The Paycheck Protection Program (PPP) has provided temporary funding for many businesses of various sizes and across many industries. Once borrowers have received approval and funding (if not sooner), they should focus on...more

Spilman Thomas & Battle, PLLC

COVID-19 Update: New Critical Guidance on PPP Loan Forgiveness

On May 13, 2020, the Small Business Administration ("SBA") issued FAQ # 46 dealing with its plan to review certain PPP loans (in response to COVID-19) to determine if the “necessity” certification was made in good faith by...more

Downs Rachlin Martin PLLC

SBA Extends Eligibility and Safe Harbor Guidance to Private Companies

Prompted by the public clamor surrounding the participation of large, publicly traded and deeply capitalized companies in the Paycheck Protection Program (“PPP”), on April 23, 2020, the Small Business Administration (“SBA”)...more

Hutchison PLLC

Client Alert: Rethinking “Necessity” - SBA Provides Additional Guidance and Amnesty in Latest FAQs

Hutchison PLLC on

If the recent media attention for high profile borrowers such as Shake Shack and others has you rethinking your certifications under the PPP loan, you may be in luck. In an updated set of FAQs released on April 23, 2020, the...more

13 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide