On December 27, 2020, the President signed the Consolidated Appropriations Act, 2021, which includes the COVID-related Tax Relief Act of 2020 and the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act. ...more
On Friday, October 9, 2020, the Small Business Administration (“SBA”) released guidelines for a simpler loan forgiveness process for Borrowers with Paycheck Protection Program loans of $50,000 or less[1], and a new and much...more
The Paycheck Protection Program Flexibility Act of 2020 (“PPPFA”) become law on Friday, June 5, 2020, modifying critical provisions of the CARES Act and the Interim Final Rules implementing the CARES Act, adopted by the Small...more
This Article is based on information available as of June 18, 2020. The information is subject to change as additional guidance is provided. In mid-May the SBA published the PPP Loan Forgiveness Application (SBA Form 3508)....more
This Article is based on information available as of June 5, 2020. The information is subject to change as additional guidance is provided. NOTE—The Paycheck Protection Program Flexibility Act of 2020 amends the CARES Act...more
The SBA has published the PPP Loan Forgiveness Application (SBA Form 3508) which can be downloaded here and on May 22, 2020 the SBA published its Interim Final Rule on PPP Loan Forgiveness (“Rule”). This Rule provides...more
This Article is based on information available as of May 18, 2020. The information is subject to change as additional guidance is provided. The SBA has now published its PPP Loan Forgiveness Application (SBA Form 3508) which...more
5/19/2020
/ CARES Act ,
Certification Requirements ,
Coronavirus/COVID-19 ,
Federal Loans ,
Good Faith ,
Loan Forgiveness ,
New Guidance ,
Paycheck Protection Program (PPP) ,
Safe Harbors ,
SBA ,
SBA Lending Programs ,
U.S. Treasury
Since the passage of the CARES Act and the SBA completing the first round of PP Loans, companies have been dealing with an ever changing set of guidelines interpreting the eligibility requirements for a PPP Loan and the...more
Since the passage of the CARES Act and the SBA completing the first round of PPP Loans, companies have been dealing with an ever changing set of guidelines interpreting the eligibility requirements for a PPP Loan and the...more
Since the passage of the CARES Act and the SBA completing the first round of PPP Loans, companies have been dealing with an ever changing set of guidelines interpreting the eligibility requirements for a PPP Loan and the...more
In its interim rules dated April 2, 2020, the SBA stated that it will issue additional guidance on loan forgiveness. The SBA is required to issue final guidelines on loan…...more
The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) established the Paycheck Protection Program (“PPP”). The CARES Act provides the general framework for the loans available to businesses under the PPP...more
The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was enacted and signed into law by the President on March 27, 2020. The principal program for small business economic relief under the CARES Act is the...more
The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was enacted and signed into law by the President on March 27, 2020. The principal program for small business economic relief under the CARES Act is the...more