On December 27, 2020, President Trump signed the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the Economic Aid Act) (Pub. L. 116-260) into law to provide continued assistance to individuals and...more
1/18/2021
/ CARES Act ,
Coronavirus/COVID-19 ,
Economic Aid Act ,
Federal Loans ,
Financial Stimulus ,
Interim Final Rules (IFR) ,
Lenders ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business
As business owners and their advisors who received Paycheck Protection Program loans focus on the Loan Forgiveness Application, Congress passed an Act that makes significant changes the Program. The House of Representatives...more
Over the last several days, the Small Business Administration (the “SBA”) has provided some answers to questions that many borrowers have had, including:
..With the negative publicity that some borrowers have gotten, can...more
On April 2, 2020, the Small Business Association (SBA), in consultation with the Department of the Treasury, published its Interim Final Rule (“Rule”) announcing the Paycheck Protection Program. While the Rule provided some...more
4/23/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Financial Stimulus ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Popular ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
U.S. Treasury
On the evening before lenders could begin accepting applications, the SBA published its Interim Final Rule (“Rule”) announcing the Paycheck Protection Program. The entire Rule is available online and this article will...more
The ‘‘Coronavirus Aid, Relief, and Economic Security Act’’ or the ‘‘CARES Act’’ created the Paycheck Protection Program designed to provide a direct incentive for small businesses to keep their workers on the payroll by...more
On March 27, 2020, President Trump singed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) into law. Section 1110 of the CARES Act makes several changes to the SBA’s Economic Injury Disaster Loans Program by...more
The ‘‘Coronavirus Aid, Relief, and Economic Security Act’’ or the ‘‘CARES Act’’ has officially been signed into law. The 880 page document creates and funds many programs designed to combat the economic disaster brought on by...more