Key Points
- On December 27, 2020, the new stimulus package appropriating an additional $284.45 billion for the PPP was signed into law.
- The categories of eligible uses for loan proceeds and forgiveness are...more
Key Points
- On October 26, 2020, the SBA announced its intent to require a Necessity Questionnaire for borrowers that received PPP loans of $2 million or greater.
- The SBA intends to use the Necessity Questionnaire...more
- The Department of Justice (DOJ) will focus its civil enforcement activity on fraud and other illegal actions relating to COVID-19, including with respect to CARES Act stimulus programs and consumer products marketed for use...more
7/6/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Corporate Counsel ,
Department of Justice (DOJ) ,
Enforcement Actions ,
False Claims Act (FCA) ,
Fraud ,
Main Street Lending Programs ,
Paycheck Protection Program (PPP) ,
Private Equity Firms ,
Qui Tam
- The Paycheck Protection Program (PPP), contained within the stimulus package signed by President Trump on March 27, 2020, creates a $349 billion loan facility to help “small” businesses make payroll and pay certain other...more
Loans Under Paycheck Protection Program (Section 1102) -
Section 1102 provides $350 billion for expedited individual loans up to $10 million through approved lenders that are guaranteed 100 percent by the U.S. government....more