Under the Paycheck Protection Program (PPP), borrowers can seek loan forgiveness of the full principal amount of loans as early as eight weeks after disbursement of the loan proceeds. On May 22, 2020, the U.S. Small Business...more
5/31/2020
/ Applications ,
Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
FTEs ,
Interim Final Rules (IFR) ,
Lenders ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Popular ,
Safe Harbors ,
SBA ,
Small Business
The Small Business Administration (SBA) issued a second update to its answers to frequently asked questions about the Paycheck Protection Program (PPP) on May 13, 2020. This update extends the “safe harbor” period for...more
The Small Business Administration issued an important update to its answers to frequently asked questions about the Paycheck Protection Program (PPP) on May 13, 2020:
Question: How will SBA review borrowers’ required...more
The Small Business Administration (SBA) updated its answers to frequently asked questions about the Paycheck Protection Program (PPP) on May 5, 2020, as follows:
Question: FAQ #31 reminded borrowers to review carefully the...more
In the last few days, the Small Business Administration (SBA) provided additional answers to frequently asked Paycheck Protection Program (PPP) questions and published yet another interim final rule on the administration of...more
On April 24, 2020, the Paycheck Protection Program and Health Care Enhancement Act was signed into law and provided an additional $310 billion for the Paycheck Protection Program (PPP). The Small Business Administration (SBA)...more
On April 23, 2020, the Small Business Administration (SBA) updated its Answers to Frequently Asked Questions about the Paycheck Protection Program (PPP). Among the most noteworthy updates is the following answer provided by...more
On April 14, 2020, the Small Business Administration (SBA) posted an additional Interim Final Rule for the Paycheck Protection Program (PPP). This new Interim Final Rule functions as a supplement to the first PPP Interim...more
On April 9, 2020, the Federal Reserve announced a new “Main Street” Lending Program that will facilitate lending by banks and other financial institutions to mid-size businesses. The program is comprised of two separate...more
On April 7, 2020, the Small Business Administration (SBA) issued additional guidance on the Paycheck Protection Program (PPP) in the form of answers to frequently asked questions about the PPP. According to the new guidance,...more