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 new guidance includes helpful information about additional ‘eligible costs’ for which PPP funds may be used.
On January 6, 2021, the Small Business Administration (SBA) released additional guidance for the Paycheck...more
1/12/2021
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Foreign Subsidiaries ,
Gaming ,
Hospitals ,
NAICS ,
New Guidance ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Payroll Expenses ,
Portfolio Companies ,
Publicly-Traded Companies ,
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SBA ,
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The recently-passed Consolidated Appropriations Act, 2021 (the “CAA”) augments the CARES Act by expanding the existing Paycheck Protection Program (“PPP”) and adding additional stimulus programs in an attempt to lay some...more
1/8/2021
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CARES Act ,
Consolidated Appropriations Act (CAA) ,
Debtors ,
Economic Stimulus ,
Eligibility ,
Exemptions ,
New Legislation ,
Paycheck Protection Program (PPP) ,
Safe Harbors ,
SBA
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
For several weeks, parties to pending merger and sale transactions involving Paycheck Protection Program (PPP) loans have been asking what will happen to PPP loan forgiveness applications if a borrower sells its business...more
On July 4, 2020, the PPP Extension Bill (PPP Extension), was enacted to give small businesses more time to apply for loans under the Paycheck Protection Program (PPP). With approximately $130 billion remaining available...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 ,
Small Business Loans
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
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 3, the Small Business Administration issued two additional rule updates affecting the Paycheck Protection Program. First, it provided a summary of the affiliation rules to be used by applicants in connection with the...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