The Paycheck Protection Program (“PPP”) was created on March 27, 2020 as part of the first COVID-19 relief package. Over the past year, Congress appropriated almost $700 billion to the PPP in an effort to provide forgivable...more
3/8/2021
/ Coronavirus/COVID-19 ,
Corporate Counsel ,
Federal Trade Commission (FTC) ,
FOIA ,
Fraud ,
Fraudulent Transfers ,
Loan Forgiveness ,
OIG ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA
In the wake of COVID-19, small businesses have faced unique challenges and hardships. In response, the government created a federal relief program under the CARES Act, the Paycheck Protection Program (PPP), aimed toward...more
3/5/2021
/ Biden Administration ,
CARES Act ,
Coronavirus/COVID-19 ,
Independent Contractors ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Popular ,
Relief Measures ,
SBA ,
Self Employed ,
Small Business ,
Small Business Loans ,
Sole Proprietorship
On January 6, the Small Business Administration (SBA) issued its Interim Final Rule (IFR) for the original Paycheck Protection Program (PPP-1) to reflect changes to the program included in the recent Economic Aid to Hard-Hit...more
1/11/2021
/ Coronavirus/COVID-19 ,
Good Faith ,
Interim Final Rules (IFR) ,
New Guidance ,
Paycheck Protection Program (PPP) ,
Property Damage ,
Publicly-Traded Companies ,
Relief Measures ,
SBA ,
Small Business ,
Small Business Loans
On December 27, the Consolidated Appropriations Act of 2021 (the “Act”) was signed into law. This Act makes available $284 billion for second draw loans under the Paycheck Protection Program (“PPP-2”) and also makes important...more
12/30/2020
/ Borrowers ,
Certification Requirements ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Eligibility ,
Financial Stimulus ,
Loan Applications ,
Loan Forgiveness ,
Loans ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
Small Business
On June 19, the Small Business Administration (SBA) published an update to its Interim Final Rules (New IFR) to reflect changes to the Paycheck Protection Program (PPP) put in place under the new Paycheck Protection Program...more
6/24/2020
/ Applications ,
Borrowers ,
CARES Act ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Relief Measures ,
SBA ,
Small Business ,
Small Business Loans
On May 15, the Small Business Administration (SBA) published its long-awaited Loan Forgiveness Application and Instructions for Borrowers (Application). The Application clarified certain forgiveness rules and calculations for...more
The Export-Import Bank of the United States (EXIM) has announced the temporary expansion or establishment of four financing programs to help exporters cope with the COVID-19 crisis. The crisis has caused a multitude of...more
As of the last report, the United States Treasury Department is proposing a $1 trillion stimulus package to spur economic stability during the COVID-19 crisis. This is on top of what state and local governments are proposing...more