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
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 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