Last week, the U.S. District Court for the Northern District of Florida ruled in favor of SBA lenders with respect to the treatment of “agent fees” under the Paycheck Protection Program (PPP)....more
(For Information on PPP forgiveness that is written specifically for borrowers, please find our borrower’s guide and checklist). After much anticipation, the Small Business Administration (“SBA”) issued a formal Paycheck...more
The Small Business Administration (“SBA”) recently issued a formal Paycheck Protection Program (“PPP”) Loan Forgiveness Application. We will highlight a number of key elements of the application. Additionally, we will review...more
5/22/2020
/ CARES Act ,
Compliance ,
Coronavirus/COVID-19 ,
Financial Services Industry ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
SBA ,
SBA Lending Programs ,
Secretary of the Treasury ,
Small Business ,
Webinars
The SBA issued an additional FAQ #46, providing guidance on how it will review the required good faith certification that current economic uncertainty make the PPP loan necessary to support ongoing operations, which we refer...more
In response to the economic crisis caused by the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), was signed into law and dedicated $349 billion to the Paycheck Protection Program...more
As every financial institution likely knows, last week brought the implementation of the Paycheck Protection Program (“PPP”) under the CARES Act. However, with the launch of the program by a number of financial institutions,...more