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Loan Repayment Issues Coronavirus/COVID-19 Federal Loans

Parker Poe Adams & Bernstein LLP

SBA Reveals Questionnaires Aimed at Auditing Necessity of Large Paycheck Protection Program Loans

In a series of FAQs issued last spring, the Small Business Administration (SBA) made clear that it would review the certification made by Paycheck Protection Program (PPP) borrowers of $2 million or more that “[c]urrent...more

BCLP

SBA Confirms Impact of PPP Flexibility Act on Outstanding Promissory Notes

BCLP on

On October 7, 2020, the Small Business Administration and Treasury Department updated their Frequently Asked Questions on the Paycheck Protection Program with FAQ 52. As reflected in the question, the PPP Flexibility Act made...more

Williams Mullen

Williams Mullen's COVID-19 Comeback Plan: Preparing Today for Tomorrow's PPP Audit

Williams Mullen on

Part of the 2020 Business Solutions Series presented by by the Hampton Roads Alliance and Williams Mullen Charles E. “Chuck” James, Jr., co-chair of both the Firearms Industry Group and the White Collar & Investigations...more

Williams Mullen

[Webinar] The 2020 Business Solutions Series: Preparing Today for Tomorrow's PPP Audit - August 13th, 11:00 am - 11:30 am ET

Williams Mullen on

Join us for a Zoom webinar to help you prepare for Paycheck Protection Program (PPP) audits. Topics include: - Background on the PPP and evolving guidance - Treasury oversight and audits - Role of the Special...more

Neal, Gerber & Eisenberg LLP

PPP Loan Repayment and Safe Harbor Checklist

As discussed in our previous client alerts, the SBA has released additional guidance on its review of the certification regarding the necessity of a PPP loan and extended the safe harbor to repay PPP loans to May 18, 2020. ...more

Ruder Ware

PPP Safe Harbor Repayment Date Extended (Again) to May 18th

Ruder Ware on

On May 5th, the U.S. Department of the Treasury (Treasury) extended the PPP loan repayment safe harbor from May 7th to May 14th. In FAQ #47 the Treasury just announced it has extended the deadline once again—this time to May...more

Orrick, Herrington & Sutcliffe LLP

Recent PPP Developments: Extension of Repayment Safe Harbor Deadline and Significant New Safe Harbor Guidance

On May 13, 2020 – one day before the May 14, 2020 repayment safe harbor deadline – the Small Business Administration (SBA) extended the deadline to May 18, 2020. ...more

Neal, Gerber & Eisenberg LLP

Updated PPP Loan FAQ from U.S. Treasury Extends Safe Harbor to Repay PPP Loans to May 18, 2020

The U.S. Department of the Treasury recently updated their "Paycheck Protection Program Loans FAQ" with guidance extending the time frame to take advantage of the safe harbor to repay PPP loans to May 18, 2020....more

Fisher Phillips

Businesses That Obtained PPP Loans Under $2M Will Not Be Audited (UPDATED)

Fisher Phillips on

One long week after the U.S. Treasury announced that it was extending the Paycheck Protection Program Loan “safe harbor” deadline to May 14, the U.S. Treasury announced this morning that borrowers whose loan amount (combined...more

Nossaman LLP

SBA Extends PPP Loan Safe Harbor Deadline to May 14, 2020 and Issues Other Guidance

Nossaman LLP on

Businesses that accepted a Paycheck Protection Program (“PPP”) loan are on the clock. Earlier last week, the Small Business Administration (“SBA”) issued Frequently Asked Question (“FAQ”) 43. In this latest FAQ, the SBA...more

Neal, Gerber & Eisenberg LLP

Updated PPP Loan FAQ from U.S. Treasury, Safe Harbor to Repay Loans Extended to May 14, Employee Count Clarified to Include...

The U.S. Department of the Treasury recently updated their “Paycheck Protection Program Loans FAQ” with guidance extending the time frame to take advantage of the safe harbor to repay PPP loans to May 14, 2020, and clarifying...more

Ballard Spahr LLP

U.S. Treasury Provides Guidance on Paycheck Protection Program, Demands Repayment From Applicants With ‘Adequate Sources of...

Ballard Spahr LLP on

Since the launch of the Paycheck Protection Program (PPP), evolving guidance has been frequently released on the website of the U.S. Treasury Department (Treasury) related to this loan program administered by the Small...more

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