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Safe Harbors Small Business Administration

Schwabe, Williamson & Wyatt PC

What to Know about the Paycheck Protection Program, Round Two – First Draw PPP Loans - Update #4

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

Schwabe, Williamson & Wyatt PC

10 Things to Know about Second Draw PPP Loans as Updated for the Economic Aid Act and the ARP Act - Update #5

On January 6, 2021, the Small Business Administration (the “SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans” (“Second...more

Schwabe, Williamson & Wyatt PC

What to Know about the Paycheck Protection Program, Round Two – First Draw PPP Loans - Update #2

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

Schwabe, Williamson & Wyatt PC

10 Things to Know about Second Draw PPP Loans as Updated for the Economic Aid Act and the ARP Act - Update #3

On January 6, 2021, the Small Business Administration (the “SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans” (“Second...more

Schwabe, Williamson & Wyatt PC

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

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

Schwabe, Williamson & Wyatt PC

10 Things to Know about Second Draw PPP Loans as Updated for the Economic Aid Act and the ARP Act - Update #2

On January 6, 2021, the Small Business Administration (the “SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans” (“Second...more

McCarter & English, LLP

New PPP Rules Benefit Self-Employed Individuals

Last year, self-employed individuals who conducted their business without any employees could qualify for a Paycheck Protection Program (PPP) loan in an amount equal to approximately 20.8% (2.5 months divided by 12 months) of...more

Schwabe, Williamson & Wyatt PC

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

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

Schwabe, Williamson & Wyatt PC

10 Things to Know about Second Draw PPP Loans as Updated for the Economic Aid Act and the ARP Act

On January 6, 2021, the Small Business Administration (the “SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans” (“Second...more

Perkins Coie

DOJ’s First False Claims Act Settlement Against PPP Borrower Signals Robust Fraud Enforcement Ahead

Perkins Coie on

As the government revives its Paycheck Protection Program (PPP) with hundreds of billions of dollars in additional loans available to small businesses, there are fresh signs that government fraud investigations and...more

ArentFox Schiff

Impacts of Stimulus Legislation on the Bankruptcy Code: Debtor Eligibility and Preference Exceptions

ArentFox Schiff on

The recently-passed Consolidated Appropriations Act, 2021 (the “CAA”) augments the CARES Act by expanding the existing Paycheck Protection Program (“PPP”) and adding additional stimulus programs in an attempt to lay some...more

Schwabe, Williamson & Wyatt PC

Why You May Want to Wait to File for PPP Loan Forgiveness and Other Tips - Update #5

Most Paycheck Protection Program (“PPP”) borrowers are working toward full forgiveness of their PPP loans and are anxious to get this process started. A borrower generally may submit a loan forgiveness application any time on...more

PilieroMazza PLLC

Weekly Update Newsletter - November 2020 #3

PilieroMazza PLLC on

LITIGATION & DISPUTE RESOLUTION - Errors to Avoid when Moving State Litigation to Federal Court, November - Depending on the claims, parties, and preferences, there are multiple forums where litigants can choose to file...more

McGlinchey Stafford

Can I Deduct Expenses Paid With A PPP Loan?

McGlinchey Stafford on

In recently released Revenue Ruling 2020-27, the IRS addressed the following two fact patterns: •First, Maria received a PPP loan in 2020 that she used to pay “Covered Expenses.” Maria meets the requirements for...more

McCarter & English, LLP

Paycheck Protection Program: Creating Certainty Out Of Uncertainty From The Rearview Mirror

McCarter & English, LLP on

The Small Business Administration (“SBA”) is accepting comments until November 26, 2020 (Thanksgiving) on two proposed loan necessity questionnaires for Paycheck Protection Program (“PPP”) loans in excess of $2 million: SBA...more

Akin Gump Strauss Hauer & Feld LLP

The Paycheck Protection Program: New SBA Questionnaires Require Borrowers of $2 Million or More to Provide Justification for...

Key Points - On October 26, 2020, the SBA announced its intent to require a Necessity Questionnaire for borrowers that received PPP loans of $2 million or greater. - The SBA intends to use the Necessity Questionnaire...more

Schwabe, Williamson & Wyatt PC

Why You May Want to Wait to File for PPP Loan Forgiveness and Other Tips - Update #4

Most Paycheck Protection Program (“PPP”) borrowers are working toward full forgiveness of their PPP loans and are anxious to get this process started. A borrower generally may submit a loan forgiveness application any time on...more

Ward and Smith, P.A.

Questions Raised by the PPP Loan Necessity Questionnaire

Ward and Smith, P.A. on

Under the Paycheck Protection Program ("PPP"), borrowers who received a PPP loan in excess of $2 million, whether from a single loan or the combined total of loans from the borrowers' affiliates, have known for a while that...more

Schwabe, Williamson & Wyatt PC

Why You May Want to Wait to File for PPP Loan Forgiveness and Other Tips - Update #3

Most Paycheck Protection Program (“PPP”) borrowers are working toward full forgiveness of their PPP loans and are anxious to get this process started. A borrower generally may submit a loan forgiveness application any time on...more

Schwabe, Williamson & Wyatt PC

Why You May Want to Wait to File for PPP Loan Forgiveness and Other Tips - Update #2

Most Paycheck Protection Program (“PPP”) borrowers are working toward full forgiveness of their PPP loans and are anxious to get this process started. A borrower generally may submit a loan forgiveness application any time on...more

Schwabe, Williamson & Wyatt PC

Why You May Want to Wait to File for PPP Loan Forgiveness and Other Tips - Update

Most Paycheck Protection Program (“PPP”) borrowers are working toward full forgiveness of their PPP loans and are anxious to get this process started. A borrower generally may submit a loan forgiveness application any time on...more

Husch Blackwell LLP

FAQ: Paycheck Protection Program Forgiveness For Borrowers-UPDATED September 2020 #1

Husch Blackwell LLP on

On May 22, 2020 the SBA and Department of the Treasury released the long awaited Interim Final Rule on Forgiveness of Paycheck Protection Program (PPP) Loans and the Interim Final Rule on SBA Loan Review Procedures, both of...more

Schwabe, Williamson & Wyatt PC

Ten Things to Know About the PPP Loan Forgiveness Applications - Update #4

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

Schwabe, Williamson & Wyatt PC

Ten Things to Know About the PPP Loan Forgiveness Applications - Update #3

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

Schwabe, Williamson & Wyatt PC

Ten Things to Know About the PPP Loan Forgiveness Applications - Update #2

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

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