News & Analysis as of

Federal Loans Economic Aid Act

Lowenstein Sandler LLP

Paycheck Protection Program: FAQs for Nonprofits - UPDATED March #3

On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits and...more

Lowenstein Sandler LLP

Paycheck Protection Program: FAQs For Nonprofits - UPDATED March 2021 #2

Lowenstein Sandler LLP on

On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits and...more

Lowenstein Sandler LLP

Paycheck Protection Program: FAQs For Microbusinesses - UPDATED March 2021 #2

Lowenstein Sandler LLP on

On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits and...more

Cozen O'Connor

PPP Fraud Is Ripe for Enforcement in 2021. Can Self-Disclosure & Cooperation Create a Path to Leniency?

Cozen O'Connor on

As we approach the one-year anniversary of passage of the Coronavirus Aid, Relief and Economic Security (CARES) Act, we are getting a better sense of how the government will address fraud arising out of this legislation....more

Robinson & Cole LLP

PPP Update: New Round with Some New Rules

Robinson & Cole LLP on

On December 27, 2020, the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act was signed into law as part of the Consolidated Appropriations Act, 2021 (the Act). The Act reopens the Paycheck Protection...more

Burr & Forman

Are You Ready for Your PPP Loan Audit?

Burr & Forman on

PPP loans received by individuals and businesses under the CARES Act will be audited (“reviewed”) by the SBA.  The new Economic Aid Act also requires the SBA to submit a forgiveness audit plan within 45 days after enactment...more

Pullman & Comley, LLC

What’s New this Week with PPP Loans? Deadline for Eligible Borrowers is March 31, 2021

Pullman & Comley, LLC on

The Consolidated Appropriations Act, 2021 (H.R. 133-116) added $900 billion in stimulus relief to the spending packages dedicated to fighting the economic woes wrought by the COVID-19 pandemic. Title III of Division M of the...more

Burr & Forman

New “Second Draw” PPP Loans Under the Economic Aid Act for the Self-Employed/Sole Proprietors

Burr & Forman on

The new Economic Aid Act passed by Congress authorizes new PPP loans for first-time borrowers, but also additional PPP loans for those that already received a loan last year....more

Orrick, Herrington & Sutcliffe LLP

Navigating Second Draw PPP Loans

On December 27, 2020 the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the Economic Aid Act) was signed into law, which reopened the Paycheck Protection Program (PPP) both to first-time borrowers and,...more

Tucker Arensberg, P.C.

Interim Final Rules and Application Released for Second Draw PPP Loans

Tucker Arensberg, P.C. on

On December 27, 2020, President Trump signed the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the Economic Aid Act) (Pub. L. 116-260) into law to provide continued assistance to individuals and...more

Genova Burns LLC

Paycheck Protection Program: More Clarifying Rules, Second Draws and a New Application Form

Genova Burns LLC on

On January 6, 2021, the Small Business Association ("SBA") and the Treasury Department released interim final rules for the Paycheck Protection Program (“PPP”) Second Draw Program, which was created as part of the stimulus...more

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