The Small Business Administration (SBA) and the U.S. Department of the Treasury issued a new interim Paycheck Protection Program (PPP) rule on August 24, 2020. The rule covers changes involving owner-employee compensation,...more
The Small Business Administration (“SBA”) recently issued a new interim final rule clarifying whether paycheck protection program (“PPP”) loan proceeds may be used for certain payroll and nonpayroll costs and remain eligible...more
The SBA has continued its wave of regulations and guidance as PPP borrowers begin to apply for loan forgiveness. New regulations address nuanced, but important, issues such as “owner-employee” compensation and the...more
In yet another interim final rule released yesterday, the Small Business Administration (SBA) loosened limitations for calculating forgiveness for compensation of certain “owner-employees,” but limited “non-payroll” costs...more
On August 4, 2020, the Small Business Administration (SBA) and the U.S. Department of the Treasury released new FAQs to provide further guidance on Paycheck Protection Program (PPP) loan questions and supplement previously...more