News & Analysis as of

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Lowenstein Sandler LLP

Paycheck Protection Program Round 2: FAQs For Microbusinesses

The Paycheck Protection Program closed on May 28, 2021. The SBA is no longer accepting new applications from participating lenders. The following FAQs are for informational purposes only and to assist borrowers who obtained...more

Lowenstein Sandler LLP

Paycheck Protection Program Round 2: FAQs For Microbusinesses - June 2021

The Paycheck Protection Program closed on May 28, 2021. The SBA is no longer accepting new applications from participating lenders. The following FAQs are for informational purposes only and to assist borrowers who obtained...more

Lowenstein Sandler LLP

Paycheck Protection Program Round 2: FAQs For Microbusinesses - May 2021

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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

Perkins Coie

SBA Serves Up Guidance for Restaurant Revitalization Fund Grants

Perkins Coie on

More than a year into the COVID-19 pandemic, the first form of federal relief prepared specifically for restaurants is likely to be delivered soon. Many restaurants have benefited from Paycheck Protection Program (PPP) loans,...more

Schwabe, Williamson & Wyatt PC

What to Know about the Paycheck Protection Program, Round Two – First Draw PPP Loans - Update #3

Unpacking the Economic Aid Act and American Rescue Plan Act: Consolidated First Draw PPP Interim Final Rule, New First Draw PPP Loans, and Increases to First Draw PPP Loans - On January 6, 2021, the Small Business...more

Lowenstein Sandler LLP

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

Tonkon Torp LLP

PPP Round 2: Who Is Eligible, What Expenses Can Be Paid, And What Is The Tax Treatment?

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Shortly before the end of the bizarre and painful 2020 calendar year, the Consolidated Appropriations Act for 2021 (the Act) was signed into law, providing an additional $284 billion appropriation for the Paycheck Protection...more

Lowenstein Sandler LLP

Paycheck Protection Program: FAQs For Microbusinesses - UPDATED March 2021

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

Husch Blackwell LLP

FAQ: CARES Act SBA Loan Programs - UPDATED February 2021

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Congress's coronavirus financial relief package, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was the largest economic relief bill in United States history and supported individuals and businesses affected...more

Dunlap Bennett & Ludwig PLLC

Paycheck Protection Program: An Update Moving Into 2021

For the last seven months, the U.S. Small Business Association (“SBA”) and U.S. Treasury Department have administered one of the Federal government’s widely supported COVID-19 response programs, the Paycheck Protection...more

Harris Beach PLLC

SBA Issues Guidance on Next Round of PPP Loans, But Questions Remain

Harris Beach PLLC on

The Small Business Administration (SBA) has released updated Paycheck Protection Program (PPP) interim final rules which implement and provide additional guidance on the new PPP provisions contained in the Economic Aid to...more

Pillsbury Winthrop Shaw Pittman LLP

COVID-19 Relief: Understanding New Paycheck Protection Loan Opportunities

The Economic Aid Act continues the CARES Act’s Paycheck Protection Program with an additional $284 billion to provide forgivable loans to eligible small businesses, including certain borrowers that already received loans. ...more

White and Williams LLP

PPP 2.0: Welcome, But Still Too Complicated?

White and Williams LLP on

While the arrival of vaccines for the coronavirus have us seeing the proverbial light at the end of the COVID-19 tunnel, many small businesses, particularly in industries such as travel, hospitality and specialty retail,...more

King & Spalding

PPP Round Three: Second Draws and Second Chances

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On December 27, 2020, Congress passed the Economic Aid Act, another COVID-19 relief bill with changes to the Paycheck Protection Program (“PPP”) and the opportunity for many PPP loan recipients to apply for a second loan,...more

McCarter & English, LLP

Paycheck Protection Program 2.0: What Small Businesses Need To Know

The Consolidated Appropriations Act, comprised of more than 5,500 pages and including a $900 billion stimulus package, became law on December 27, 2020. As part of this law, the Economic Aid to Hard-Hit Small Businesses,...more

Moritt Hock & Hamroff LLP

Round Two: Reauthorization of the Paycheck Protection Program

On December 27, 2020, H.R. 133 – the Consolidated Appropriations Act, 2021 (the “CAA 2021”) was signed into law. The CAA 2021 not only provides an omnibus spending bill for the 2021 fiscal year, it also contains provisions...more

Foley Hoag LLP

SBA Issues Regulations on New Round of PPP Loans

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On January 6, 2021, the U.S. Small Business Administration and the Department of Treasury released interim final rules related to the expansion and extension of the original Paycheck Protection Program (PPP) and the...more

Chambliss, Bahner & Stophel, P.C.

What You Need to Know About Latest Paycheck Protection Program Regulations and Second Draw Loans

As we have reported, the stimulus bill passed by Congress and signed by President Trump late last year enacted major changes to the popular Paycheck Protection Program (PPP). And this week, consistent with that law’s 10-day...more

Tonkon Torp LLP

New Round Of PPP Loans And Tax Breaks In Year End Stimulus Package

Tonkon Torp LLP on

After months of stalled negotiations, Congress finally passed the Consolidated Appropriations Act for 2021 (the “Act”), which includes a $900 billion stimulus package to support the ailing economy. The Act, signed into law by...more

Schwabe, Williamson & Wyatt PC

CARES Act Questions for the Manufacturing, Distribution and Retail 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

M&A Transactions & PPP Eligibility and Forgiveness Considerations

Womble Bond Dickinson on

We are now a good three months into the chaos brought about by COVID-19 and while many middle- and lower-middle market deals have been put on hold or even died, some M&A activity has continued unabated. That said, the deals...more

Morrison & Foerster LLP

The SBA Imposes A $20M Limit On PPP Loans For Corporate Groups

On April 30, 2020, the U.S. Small Business Administration (SBA) issued a sixth interim final rule on the SBA’s Paycheck Protection Program (PPP), one of the relief programs available under the Coronavirus Aid, Relief, and...more

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