The highly anticipated coronavirus relief package was passed by Congress late on December 21, 2020, and is expected to be signed into law in the coming days.
As part of the coronavirus relief package, Congress has...more
On June 17, 2020, the US Small Business Administration (SBA), in consultation with the Department of the Treasury, published a new PPP Loan Forgiveness Application Form 3508EZ (EZ Forgiveness Application), which requires...more
On Friday, June 5 President Trump signed the Paycheck Protection Program Flexibility Act of 2020 (PPP Flexibility Act) into law. The PPP Flexibility Act modifies the Paycheck Protection Program (PPP) that was contained in the...more
6/8/2020
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CARES Act ,
Coronavirus/COVID-19 ,
Donald Trump ,
Extensions ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
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Small Business Loans
On May 15, 2020, the Small Business Administration (SBA) released the Loan Forgiveness Application for loans under the Paycheck Protection Program (PPP). The release of the Forgiveness Application sheds further light on the...more
Notable developments involving eligibility under the Paycheck Protection Program and the PPP’s loan forgiveness process have occurred in recent days. First, litigation has progressed in federal court over whether the interim...more
On April 24, 2020, the US Department of the Treasury released new guidance to assist businesses with calculating the maximum Paycheck Protection Program (PPP) loan amount to which they are entitled.
The guidance...more
The CARES Act specifies that a PPP borrower will be eligible for forgiveness of indebtedness on a PPP loan in an amount equal to the sum of payroll costs, covered mortgage interest payments, covered rent payments, and covered...more