On October 2, 2020, the Small Business Administration (SBA) published guidance on when SBA consent must be obtained before a PPP borrower undergoes a change of ownership. It not only covers changes in controlling ownership...more
On June 5, 2020, the Paycheck Protection Program Flexibility Act of 2020 (PPPFA) became law providing additional relief to borrowers under the Paycheck Protection Program (PPP). The PPPFA amends the original Coronavirus Aid,...more
On Friday, May 23, 2020, the Small Business Administration (SBA) released two long-awaited Interim Final Rules (IFR) regarding forgiveness of Paycheck Protection Program (PPP) loans. As with previous PPP IFRs from the SBA,...more
On Friday, May 15, 2020, the Small Business Administration (SBA) published the “Paycheck Protection Program (PPP) Loan Forgiveness Application” to be completed by borrowers to have their PPP loan forgiven.
The Form itself...more
5/19/2020
/ CARES Act ,
Certifications ,
Coronavirus/COVID-19 ,
Federal Loans ,
Financial Stimulus ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Payroll Expenses ,
Relief Measures ,
SBA ,
SBA Lending Programs
As an update to our previous alert regarding guidance on the good faith “necessity” certification, the Small Business Administration (SBA) has further extended the Paycheck Protection Program (PPP) loan “safe harbor”...more
On May 13, 2020, the Small Business Administration (SBA) announced additional guidance regarding the good faith “necessity” certification for Paycheck Protection Program (PPP) loans in the form of a new Frequently Ask...more
On April 23, 2020, the Small Business Administration (SBA), in consultation with the U.S. Department of Treasury, released additional guidance to address borrower and lender questions concerning the implementation of the...more