The Strategic Side of Compliance Budgets
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
Below are the ten important things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness Applications and the detailed instructions for the applications posted on June 16, 2020, and October 8, 2020. There are...more
Below are the top ten things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness Applications and the detailed instructions for the applications posted on June 16, 2020. There are two forms and two sets of...more
How to use this article: You already know that the Paycheck Protection Program (PPP) is highly complex, with intertwining conditions, exceptions, and definitions that defy simple explanation. This article assumes that you are...more
On August 4, 2020, the U.S. Small Business Administration (SBA) issued New PPP Loan Forgiveness FAQs. These FAQs, together with previously released guidance and forgiveness applications and instructions, provide an outline...more
Senate Republicans have introduced the Health, Economic Assistance, Liability Protection and Schools (HEALS) Act, a nearly one-trillion-dollar stimulus package comprised of a package of bills that includes the Continuing...more
Congress has extended the deadline to apply for a Paycheck Protection Program (PPP) loan to August 8, 2020. The extension, from June 30, 2020, reflects the poor structure and rollout of the program and that, despite the...more
Below are the top 10 things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness Applications and the detailed instructions for the applications posted on June 16, 2020. There are two forms and two sets of...more
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
The Small Business Administration (SBA), on June 16, 2020, released new loan forgiveness application forms and corresponding instructions for borrowers seeking forgiveness of their Paycheck Protection Program (PPP) loans. On...more
On May 18, 2020, and May 26, 2020, Schwabe published two articles about the Paycheck Protection Program (“PPP”) Loan Forgiveness Application dated May 2020. On June 16, 2020, in light of the changes from the Paycheck...more
Employers seeking Paycheck Protection Program (PPP) loan forgiveness should notify their state’s unemployment insurance office if they have offered to hire or rehire an employee who has then rejected that offer. The Small...more
On June 4, attorneys Greg Fryer and Ben Ford represented Verrill's COVID-19 Response Team and virtually presented with the Portland Regional Chamber of Commerce on the Paycheck Protection Program (PPP) loan forgiveness...more
On June 5, 2020, the Paycheck Protection Program Flexibility Act of 2020 (PPPFA) was signed into law to provide relief to borrowers under the Paycheck Protection Program (PPP). The PPPFA amends the original Coronavirus Aid,...more
The Paycheck Protection Program Flexibility Act (the “Act”), which has passed the House and Senate and is expected to be signed shortly by the President, makes several changes to the Paycheck Protection Program (“PPP”), the...more
On May 27, 2020, the U.S. House of Representatives overwhelmingly approved a bill which if enacted into law would make the Paycheck Protection Program (PPP) more helpful to small businesses, including through an expansion of...more
On May 22, 2020, the U.S. Small Business Administration (“SBA”) released two Interim Final Rules (“IFRs”) providing additional guidance on Payment Protection Program (“PPP”) loan forgiveness rules and the procedure by which...more