News & Analysis as of

Interim Final Rules (IFR) Applications

Schwabe, Williamson & Wyatt PC

Asking for Forgiveness: Further Revised PPP Loan Forgiveness Applications and Guidance - Update

Below are 10 important things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness ‎Applications and the detailed instructions for the further revised and updated applications posted on July 30, 2021, ‎as...more

Schwabe, Williamson & Wyatt PC

What to Know about the Paycheck Protection Program, Round Two - Update

Unpacking the Economic Aid Act: Consolidated First Draw PPP Interim Final Rule, New First Draw PPP Loans, and Increases to First Draw PPP Loans (January 14, 2021) - Late on January 6, 2021, the Small Business...more

Sheppard Mullin Richter & Hampton LLP

New Interim Final Rules Re: PPP Loan Forgiveness Requirements and Review Procedures as Amended by Economic Aid Act

On January 19, 2021, the U.S. Small Business Administration (SBA) published its 28th Interim Final Rule (Forgiveness IFR) covering the loan forgiveness requirements and review procedures for the Paycheck Protection Program,...more

Schwabe, Williamson & Wyatt PC

Updated Key Considerations for PPP Documentation under the Economic Aid Act

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

Schwabe, Williamson & Wyatt PC

Asking for Forgiveness: Revised PPP Loan Forgiveness Applications and Guidance

Forgiveness ‎Applications and the detailed instructions for the revised and updated applications posted on January 19, 2021, ‎as well as other forgiveness procedures as updated by the Economic Aid to Hard-Hit Small...more

Schwabe, Williamson & Wyatt PC

The Lender’s Role in the PPP Loan Review Process - After the Economic Aid Act: An Updated Guide to the PPP Loan Forgiveness Review...

Lenders play a large role in the Paycheck Protection Program (“PPP”) loan forgiveness review and appeals process. The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the “Economic Aid Act” or “PPP2...more

Schwabe, Williamson & Wyatt PC

Initial Takeaways and Agency Guidance for the Latest PPP Updates - After the Economic Aid Act: An Updated Guide to the PPP Loan...

On January 19, 2021, the Small Business Administration (the “SBA”) in consultation with the Department of Treasury (“Treasury”) posted new forgiveness application forms and the Interim Final Rule on Loan Forgiveness...more

Sheppard Mullin Richter & Hampton LLP

Paycheck Protection Program: SBA Issues Guidance on First Draw and Second Draw PPP Loans and Releases PPP Applications Pursuant to...

On January 6, 2020, the SBA published its 26th Interim Final Rule (the First Draw PPP IFR) and 27th Interim Final Rule (the Second Draw PPP IFR)[1] with respect to the Paycheck Protection Program (PPP), as reauthorized and...more

Schwabe, Williamson & Wyatt PC

What to Know about the Paycheck Protection Program, Round Two

Unpacking the Economic Aid Act: Consolidated First Draw PPP Interim Final Rule, New First Draw PPP Loans, and Increases to First Draw PPP Loans (January 14, 2021) - Late on January 6, 2021, the Small Business...more

Foley Hoag LLP

SBA Announces Simpler PPP Forgiveness for Loans Less Than $50k

Foley Hoag LLP on

The U.S. Small Business Administration (SBA) has announced that it is rolling out a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. The SBA claims the new, more streamlined...more

Schwabe, Williamson & Wyatt PC

Ten Things to Know About the PPP Loan Forgiveness Applications - Update #5

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

Gibney Anthony & Flaherty, LLP

Trump Administration Advances Rules Restricting Visas for High-Skilled Foreign Workers

The Trump Administration has announced that it will publish two Interim Final Rules on Thursday, October 8, 2020 that will substantially alter the H-1B visa program for temporary professionals working in a specialty...more

Sullivan & Worcester

U.S. Treasury Issues Additional Guidance Regarding Loan Forgiveness

Sullivan & Worcester on

The U.S. Treasury recently issued additional guidance in the form of frequently asked questions regarding the Paycheck Protection Program (PPP) created by the Coronavirus Aid, Relief, and Economic Security Act. The guidance...more

Schwabe, Williamson & Wyatt PC

CARES Act Questions for the Manufacturing, Distribution and Retail Industry - Update #9

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

Schwabe, Williamson & Wyatt PC

CARES Act Questions for the Transportation, Ports, and Maritime Industries - Update #8

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

Buchalter

Buchalter COVID-19 Client Alert: Lenders May Submit PPP Forgiveness Applications to SBA on August 10; SBA Issues New Procedural...

Buchalter on

On July 23, SBA announced that lenders may begin submitting PPP loan forgiveness requests to SBA on August 10. To assist lenders, SBA issued a Procedural Notice with new guidance regarding lenders’ reviews of forgiveness...more

Schwabe, Williamson & Wyatt PC

CARES Act Questions for the Transportation, Ports, and Maritime Industries - Update #7

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

Schwabe, Williamson & Wyatt PC

CARES Act Questions for the Technology Industry - Update #7

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

Womble Bond Dickinson

Frequently Asked Questions: Paycheck Protection Program Loan Forgiveness - July 2020

Womble Bond Dickinson on

Revisions Incorporate Paycheck Protection Program Flexibility Act of 2020, New Forgiveness Applications, and Recent Interim Final Rules - On June 16, 2020, the Small Business Administration (SBA) and the U.S. Treasury...more

Sheppard Mullin Richter & Hampton LLP

PPP Updates: Extension of the Application Deadline, Disclosure of PPP Borrowers Receiving Greater than $150,000 in PPP Loans, and...

On July 4, 2020, President Trump signed into law a bill passed by the U.S. Congress that extends the application deadline for the Paycheck Protection Program (PPP) from June 30, 2020 to August 8, 2020. The extension of the...more

Foley & Lardner LLP

Key Changes to the Paycheck Protection Program - Updated July 8, 2020

Foley & Lardner LLP on

The Paycheck Protection Program reopened for applications on July 6, 2020 and will remain open (pending availability of funds) through August 8, 2020. As of July 6, 2020 roughly $521 billion in Paycheck Protection Program...more

Schwabe, Williamson & Wyatt PC

CARES Act Questions for the Agricultural Industry - Update #5

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

Schwabe, Williamson & Wyatt PC

CARES Act Questions for the Transportation, Ports, and Maritime Industries - Update #6

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

Schwabe, Williamson & Wyatt PC

CARES Act Questions for the Technology Industry - Update #6

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

Schwabe, Williamson & Wyatt PC

PPP Loan Rules Clarified for Fishing Boat Owners/Operators; OSHA and CDC Interim Guidance for Seafood Processors

Paycheck Protection Program Loans – Certain Fishing Boat Owners and Certain Crewmembers - For fishing boat owners and operators who obtained (or who are contemplating applying for) a forgivable Paycheck Protection Program...more

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