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Small Business Administration › Loan Applications

The Small Business Administration is a United States federal agency established in 1953 by the Small Business Act. The SBA is dedicated to assisting and supporting small business and entreprenuers. The SBA... more +
The Small Business Administration is a United States federal agency established in 1953 by the Small Business Act. The SBA is dedicated to assisting and supporting small business and entreprenuers. The SBA carries out its mission through a variety of programs including providing financial and federal contract procurement assistance, management assistance, and specialized outreach to women, minorities and armed forces veterans. less -
Morris, Manning & Martin, LLP

What SBA Borrowers Need to Know: Lender Expectations for Corporate and Purchase Documentation

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Every loan application requires borrowers to provide a substantial amount of information about the business and its owners. When applying for a loan that is guaranteed by the U.S. Small Business Administration (SBA), you can...more

McDermott Will & Emery

PPP Loan Appeals, SBA Clawbacks and More: What You Need to Know

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Last year, we published an article titled “What to Do if Your PPP Forgiveness Application Is Denied.” Today, we share some insights into the Paycheck Protection Program (PPP) and appeals process based on our representation of...more

McDermott Will & Emery

What to Do if Your PPP Forgiveness Application Is Denied

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The Small Business Administration’s (SBA) public data indicates that more than 98% of the total Paycheck Protection Program (PPP) loan value requested to be forgiven by borrowers has been forgiven by the SBA (approximately...more

Schwabe, Williamson & Wyatt PC

PPP Loans Over $2 Million and the PPP Necessity Questionnaires - Update #3

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Starting around October 26, 2020, the Small Business Administrations (the “SBA”) asked Paycheck Protection Program (“PPP”) lenders to provide certain questionnaires to PPP borrowers with loans of $2 million or greater. There...more

Schwabe, Williamson & Wyatt PC

First Draw PPP Loans $2 Million and Up and the PPP Necessity Questionnaires - Update

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Starting around October 26, 2020, the Small Business Administrations (the “SBA”) asked Paycheck Protection Program (“PPP”) lenders to provide certain questionnaires to PPP borrowers with loans of $2 million or greater. There...more

Goodwin

Fed Proposes Guidelines for Access to Master Accounts and Payment Services

Goodwin on

In This Issue. The Board of Governors of the Federal Reserve System (Federal Reserve), in response to an increased number of inquiries and access requests from companies with fintech and other narrow purpose charters, invited...more

Ervin Cohen & Jessup LLP

SBA Releases Restaurant Revitalization Program Guidelines

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On Saturday, April 17, 2021, the Small Business Administration (“SBA”) released its much-anticipated guidelines for the Restaurant Revitalization Fund. On April 13, 2021, during a town hall with the Independent Restaurant...more

Tonkon Torp LLP

The Impact Of PPP Loans, One Year Later

Tonkon Torp LLP on

When the federal Paycheck Protection Program (PPP) was announced in March 2020, we worked with many of our business clients to secure a PPP loan in the first, fastest, and most competitive round of lending by the Small...more

Schwabe, Williamson & Wyatt PC

PPP Ineligibility Update: Businesses Ineligible for First Draw and Second Draw PPP Loans - Update

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The Coronavirus Aid, Relief, and Economic Security Act (as amended and modified, the “CARES Act”) was enacted to provide immediate assistance to individuals, families, and businesses affected by the COVID-19 emergency. Among...more

Schwabe, Williamson & Wyatt PC

Asking for Forgiveness: Revised PPP Loan Forgiveness Applications and Guidance - Update #3

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Below are 10 important things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness ‎Applications and the detailed instructions for the revised and updated applications posted on January 19, 2021, ‎as well as...more

Goodwin

CFPB Revokes 2020 Statement of Policy Regarding Prohibition on Abusive Acts or Practices

Goodwin on

In this Issue. The Consumer Financial Protection Bureau (CFPB) announced the rescission of its 2020 Statement of Policy Regarding Prohibition on Abusive Acts or Practices, possibly signaling an increase in enforcement...more

Jackson Walker

Applying for PPP Loan Before March 31st Deadline

Jackson Walker on

Time is of the essence for businesses to apply for relief from the Paycheck Protection Program. Jackson Walker finance partners Lindsey Berwick and John Wittenberg join hosts Art Cavazos and Daniel Maldonado to discuss the...more

Hinshaw & Culbertson LLP

PPP Updates: Calculation of the Loan Amount and Use of Loan Proceeds for Individuals Who File IRS Form 1040, Schedule C and...

Hinshaw & Culbertson LLP on

On March 3, 2021, the Small Business Administration (SBA), in conjunction with the U.S. Department of the Treasury, adopted an interim final rule (IFR) that: (1) allows individuals who file an IRS Form 1040, Schedule C to...more

Schwabe, Williamson & Wyatt PC

First Draw PPP Loans $2 Million and Up and the PPP Necessity Questionnaires

Schwabe, Williamson & Wyatt PC on

Starting around October 26, 2020, the Small Business Administrations (the “SBA”) asked Paycheck Protection Program (“PPP”) lenders to provide certain questionnaires to PPP borrowers with loans of $2 million or greater. There...more

Goodwin

SEC Releases 2021 Examination Priorities

Goodwin on

In this Issue. The U.S. Securities and Exchange Commission (SEC) Division of Examinations released its 2021 Examination Priorities and issued a risk alert noting that “Digital Asset Securities” entail characteristics and...more

Schwabe, Williamson & Wyatt PC

Asking for Forgiveness: Revised PPP Loan Forgiveness Applications and Guidance - Update #2

Schwabe, Williamson & Wyatt PC on

Protection Program (“PPP”) Loan 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...more

Schwabe, Williamson & Wyatt PC

PPP: Changes by the Biden-Harris Administration

Schwabe, Williamson & Wyatt PC on

On February 22, 2021, the Biden-Harris Administration and the Small Business Administration (“SBA”) announced the taking of certain steps with the Paycheck Protection Program (“PPP”) to further promote equitable relief for...more

Bowditch & Dewey

New PPP Funding Hits the Streets – A Primer on What Businesses Should Know

Bowditch & Dewey on

Struggling businesses adversely impacted by the COVID-19 pandemic now have access to a second round of Paycheck Protection Program (“PPP”) stimulus funding enacted as part of the Economic Aid to Hard Hit Small Businesses,...more

K&L Gates LLP

HUB Talks: Voluntary Disclosure: Deep Dive - They Know What You Did Last Summer—Phase 1 of the U.S. Government's Response to the...

K&L Gates LLP on

In this first episode of our series on the government's response to the Paycheck Protection Program, white collar practitioners Chris Nasson, David Rybicki, Neil Smith, and Hayley Trahan-Liptak provide an overview of the...more

McGlinchey Stafford

[Webinar] What to know about PPP loan forgiveness - February 18th, 1:00 pm CT

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You certified your eligibility for the PPP (Paycheck Protection Program), calculated the amount of your loan, and submitted your application. Your loan was approved and funded, and you used the loan proceeds for allowable...more

Harris Beach Murtha PLLC

Paycheck Protection Program – Common Questions and Updated Guidance

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The Paycheck Protection Program has been seen as a lifeline for many businesses nationwide. Josh Steele, a partner in the Harris Beach Labor & Employment group and CARES Act team member has counseled clients throughout the...more

Foley & Lardner LLP

DOJ Exercised Leniency With a Borrower Who Self-Disclosed His Error on His PPP Loan Application

Foley & Lardner LLP on

Recently, the U.S. Attorney’s Office for the Eastern District of California settled a Paycheck Protection Program (“PPP”) fraud investigation with Slidebelts, Inc. and its owner Brigham Taylor not by arresting Mr. Taylor, but...more

Schwabe, Williamson & Wyatt PC

What to Know about PPP Appeals and Next Steps - After the Economic Aid Act: An Updated Guide to the PPP Loan Forgiveness Review...

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With recent updates to the Paycheck Protection Program (“PPP”) due to the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the “Economic Aid Act” or “PPP2 Act”), new forgiveness application forms, and...more

Schwabe, Williamson & Wyatt PC

Grounds for SBA Review, the SBA Loan Review Process, and Borrower Items - After the Economic Aid Act: An Updated Guide to the PPP...

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There are a few things to keep in mind in regard to the Small Business Administration (the “SBA”) and the Paycheck Protection Program (“PPP”) loan forgiveness review process. Adding on to the initial PPP funding, the...more

Schwabe, Williamson & Wyatt PC

PPP Ineligibility Update: Businesses Ineligible for First Draw and Second Draw PPP Loans

Schwabe, Williamson & Wyatt PC on

The Coronavirus Aid, Relief, and Economic Security Act (as amended and modified, the “CARES Act”) was enacted to provide immediate assistance to individuals, families, and businesses affected by the COVID-19 emergency. Among...more

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