News & Analysis as of

Eligibility Determination Paycheck Protection Program (PPP) Small Business

Proskauer Rose LLP

Paycheck Protection Program – Borrower Appeals of Final SBA Loan Review Decisions

Proskauer Rose LLP on

On September 16, 2021, the U.S. Small Business Administration (“SBA”) issued an Interim Final Rule (the “Borrower Appeal Rule”) detailing the (largely technical) procedures for a Paycheck Protection Program (“PPP”) borrower...more

Proskauer Rose LLP

SBA Expands COVID Disaster Loans

Proskauer Rose LLP on

Effective September 8, 2021, the U.S. Small Business Administration (“SBA”) significantly expanded the ability of small businesses to apply for low-interest loans through the revised COVID Economic Injury Disaster Loan...more

Ballard Spahr LLP

UPDATED: Payroll Protection Program May Provide Relief to Eligible Small Businesses – If You Can Navigate the Workforce Issues

Ballard Spahr LLP on

Section 1102 of the CARES Act creates the Paycheck Protection Program (PPP), which is intended to provide funds for small businesses affected by COVID-19 to maintain their workforce. ...more

Pierce Atwood LLP

COVID-19: PPP Loans – Economic Need Determinations

Pierce Atwood LLP on

***Update*** On April 28, Treasury Secretary Steven Mnuchin announced that the SBA will do a full review of any loan more than $2,000,000 under the PPP program. He also warned of criminal liability for borrowers who...more

Stinson - Corporate & Securities Law Blog

Reconsidering PPP Eligibility – Should Public Companies and Financially Strong Borrowers Repay PPP Loans?

A number of public companies applied for and received potentially forgivable loans under the Paycheck Protection Program (PPP). To be eligible for a PPP loan a borrower does not need to demonstrate that it is unable to obtain...more

Mayer Brown

Clear as Mud: SBA Offers Further Clarification to PPP Eligibility

Mayer Brown on

In FAQ #31 posted on April 23, 2020, the US Small Business Administration offered the following clarification (italics added): 31. Question: Do businesses owned by large companies with adequate sources of liquidity to...more

Foley & Lardner LLP

Commercial Cleaning Franchise System Challenges SBA’s Determination of Eligibility for Paycheck Protection Program Loans Under...

Foley & Lardner LLP on

Three members of the JANI-KING® franchise system filed suit last week in federal court in Washington, D.C. alleging that the United States Small Business Administration (the SBA) has discriminated against franchised...more

Franczek P.C.

SBA Issues New FAQs regarding the Paycheck Protection Program

Franczek P.C. on

To clear up some uncertainty in the language of the CARES Act’s Payroll Protection Program (“PPP”) and the subsequent interim final rules, the Small Business Administration (“SBA”) issued Frequently Asked Questions (“FAQs”)...more

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