On March 25, 2021, Congress passed the PPP Extension Act of 2021 (PPP Extension Act), to extend the application window for small businesses to apply for Paycheck Protection Program (PPP) loans by an additional two months....more
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 May 22, 2020, the Small Business Administration (SBA) and US Department of Treasury released long-promised forgiveness regulations (Regulations) for the Paycheck Protection Program (PPP).
The Regulations provide greater...more
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
Congress created the Paycheck Protection Program (PPP), part of the CARES Act and administered by the Small Business Administration (SBA) and Treasury Department, to provide relief to small businesses in dire need of...more
On May 3, 2020, the SBA and the US Department of the Treasury released new guidance to assist businesses with calculating the forgiveness amount for Paycheck Protection Program (PPP) loans, with respect to employees who...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
Congress passed “The Coronavirus Aid, Relief, and Economic Security Act” (CARES Act), which included the “Paycheck Protection Program” (PPP) for small businesses. The PPP provides short-term cash flow assistance to small...more
On April 2, the Small Business Administration published an Interim Final Rule intended to amend certain existing regulations in order to assist lenders and borrowers in advance of the April 3 opening submission opportunity...more
The CARES Act authorizes $500 billion in lending to medium and large businesses, including nonprofits. A significant amount is set-aside for the aviation and national security sectors, with $454 billion remaining for other...more
4/1/2020
/ Business Closures ,
Business Interruption ,
CARES Act ,
Centers for Medicare & Medicaid Services (CMS) ,
Compliance ,
Coronavirus/COVID-19 ,
Department of Health and Human Services (HHS) ,
Families First Coronavirus Response Act (FFCRA) ,
Federal Loans ,
Federal Reserve ,
Financial Stimulus ,
Health Care Providers ,
Healthcare ,
Lenders ,
Medicaid ,
Medicare ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Securities and Exchange Commission (SEC) ,
Small Business ,
Tax Relief ,
Unemployment Insurance