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
2/8/2021
/ Borrowers ,
CARES Act ,
Eligibility ,
Fraud ,
Guidance Update ,
Investigations ,
Loan Applications ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
SBA ,
Small Business Loans
The Small Business Administration (SBA) has released updated Paycheck Protection Program (PPP) interim final rules which implement and provide additional guidance on the new PPP provisions contained in the Economic Aid to...more
The U.S. Small Business Administration (SBA) has begun to issue loan necessity questionnaires to Payroll Protection Program (PPP) borrowers, adding clarity to the good faith certification they required with initial...more
A significant part of the March 2020 CARES Act, the federal government’s Paycheck Protection Program (PPP) provided a lifeline for hundreds of thousands of small businesses across the nation, helping struggling owners pay...more
On June 11, 2020, the Small Business Administration issued amending key provisions of its April 2, 2020 Interim Final Rules on the Paycheck Protection Program (“PPP”), including provisions addressing loan maturity, deferral...more
On June 5, 2020, President Trump signed the Paycheck Protection Program Flexibility Act of 2020 (“PPPFA”), which makes several critical changes to the Paycheck Protection Program (“PPP”) that should provide relief to many...more
6/10/2020
/ Borrowers ,
CARES Act ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Payroll Taxes ,
SBA ,
Small Business ,
Small Business Loans ,
U.S. Treasury
Loan forgiveness is one of the key features of the government’s economic stimulus response to COVID-19. The U.S. Department of Treasury has now issued interim final rules on qualifying for forgiveness under the Paycheck...more
On late Friday, May 15, 2020, U.S. Department of the Treasury and SBA issued the Paycheck Protection Program Loan Forgiveness Application. The application consists of four components: (1) the PPP Loan Forgiveness Calculation...more
On May 13, 2020, U.S. Department of the Treasury and SBA added an additional question and answer to its Paycheck Protection Program Frequently Asked Questions that addresses the requirement that all applicants must certify...more
On April 23, 2020, U.S. Department of the Treasury added an additional question and answer to its Paycheck Protection Program Frequently Asked Questions that addresses the requirement that all applicants must certify that...more
The CARES Act (the "Act"), signed into law on March 27, is a wide-sweeping stimulus package, estimated at $2.2 trillion, that provides small businesses and nonprofits almost $350 billion in partially forgivable loans, as well...more
4/2/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Employee Retention ,
Financial Stimulus ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business
1. Up to $500 Billion in Loans, Loan Guarantees, and Investments to Eligible Businesses (of any size but geared to large businesses), States and Municipalities. (Division A, Title IV) Allocation of Funds:
• Not more than $25...more