The SBA has continued its wave of regulations and guidance as PPP borrowers begin to apply for loan forgiveness.
New regulations address nuanced, but important, issues such as “owner-employee” compensation and the...more
8/28/2020
/ C-Corporation ,
CARES Act ,
Full-Time Employees ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
New Guidance ,
New Regulations ,
Owner-Employee Compensation ,
Paycheck Protection Program (PPP) ,
Pending Legislation ,
S-Corporation ,
SBA ,
Small Business
The update generally provides further clarifications to existing guidance, but one change regarding the Expanded Loan Facility could enable eligible borrowers to access additional funding that was previously unavailable to...more
7/21/2020
/ Borrowers ,
Collateralized Debt Obligations ,
Collateralized Loan Obligations ,
EBITDA ,
Lenders ,
Libor ,
Main Street Expanded Loan Facility ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Main Street Priority Loan Facility ,
New Guidance ,
Paycheck Protection Program (PPP) ,
SBA
Banks considering lending under the Main Street Lending Program should take note of additional guidance issued by the Federal Reserve Bank of Boston.
Eligible Lenders have the option to condition their funding of a Main...more
Companies that may want to borrow under the Main Street Lending Program should take note of additional guidance recently issued by the Federal Reserve Bank of Boston.
The Federal Reserve Bank of Boston has issued further...more
6/2/2020
/ Borrowers ,
Certifications ,
Federal Reserve ,
Main Street Expanded Loan Facility ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Main Street Priority Loan Facility ,
New Guidance ,
Paycheck Protection Program (PPP) ,
Safe Harbors ,
SBA ,
Small Business Loans
On May 15, 2020, the Small Business Administration (SBA) published the application form that Paycheck Protection Program (PPP) borrowers will submit to their banks when they apply for forgiveness of their PPP loans. The...more
5/19/2020
/ Applications ,
Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
FTEs ,
Loan Forgiveness ,
New Guidance ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
U.S. Treasury
On May 13, 2020, one day before the expiration of the relevant “safe harbor” deadline, the Small Business Administration (SBA) issued new guidance to borrowers who have been considering whether to return their CARES Act...more
Under retroactive guidance issued by SBA and the Treasury Department on April 23, 2020, CARES Act Paycheck Protection Program (PPP) applicants must consider their access to alternative sources of liquidity before certifying...more
4/28/2020
/ Borrowers ,
CARES Act ,
Certification Requirements ,
Federal Register ,
Good Faith ,
Interim Final Rules (IFR) ,
Liquidity ,
New Guidance ,
Paycheck Protection Program (PPP) ,
SAFE ,
SBA ,
U.S. Treasury