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Foreign Affiliates Federal Loans

Patterson Belknap Webb & Tyler LLP

Paycheck Protection Program Flexibility Act and Updates on Foreign Affiliates and Loan Forgiveness

The Paycheck Protection Program Flexibility Act of 2020 (the “PPP Flexibility Act”) was signed into law by President Trump on June 5, 2020, which provides Paycheck Protection Program (the “PPP”) loan borrowers additional time...more

Neal, Gerber & Eisenberg LLP

Interim Final Rule on Inclusion of Foreign Employees in Determining PPP Eligibility and Related Safe Harbor

The U.S. Small Business Administration (SBA) recently issued an Interim Final Rule that confirms that when calculating the number of employees of an entity for purposes of determining eligibility for a PPP loan, an entity...more

Baker Donelson

SBA Extends Safe Harbor Deadline to May 14, 2020 and Confirms that Foreign Affiliate Employees Must be Counted for Size Purposes

Baker Donelson on

Late on May 5, 2020 the Small Business Administration (SBA) issued another round of Frequently Asked Questions (FAQs) that extended the Safe Harbor Deadline to return Paycheck Protection Program (PPP) loan funds from May 7,...more

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