PODCAST: Williams Mullen's Gavels & Gowns - Responding to Borrower Defense to Repayment Applications
Consumer Finance Monitor Podcast Episode: The U.S. Supreme Court’s Decision Invalidating the Biden Administration’s Student Loan Forgiveness Plan and its Potential Legal Repercussions
Consumer Finance Monitor Podcast Episode: SCOTUS Hears Oral Argument in Cases Challenging Biden Administration Student Loan Forgiveness Plan: Observations and Predictions
Two Federal Courts Deal Blow to Biden Administration’s Federal Student Loan Forgiveness Program: A Close Look at the Decisions
Law School Toolbox Podcast Episode 361: Student Loan Repayment (w/Derek Brainard of AccessLex Institute)
A Deep Dive into the Debate Over Federal Student Loan Forgiveness
Applying for PPP Loan Before March 31st Deadline
Paycheck Protection Program – Common Questions and Updated Guidance
COVID-19 Relief in 2021: What Small Businesses Need to Know
PPP Loan Recipients at Risk: Part Three
When Is Form 1099-C Required of Lenders? [More with McGlinchey, Ep. 16]
PPP Loan Recipients at Risk: Part One
Employment Law Now IV-85- Updates on the PPP Loan Process and Loan Forgiveness
Law Brief: Elishama Rudolph and Rich Schoenstein Talk PPP Loan Forgiveness
On-Demand Webinar | PPP Loan Forgiveness: Employment and Tax Issues for Borrowers
Law Brief: CARES Act Relief for Small Businesses
Williams Mullen's COVID-19 Comeback Plan: Preparing Today for Tomorrow's PPP Audit
False Claims Act Implications for PPP and Disaster Relief Loans: What Small Businesses Should Be Ready For
Buying or Selling a Business that Borrowed a PPP Loan
Williams Mullen's COVID-19 Comeback Plan: Conducting Reductions in Force Post COVID-19
In March 2020 during the height of the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law establishing, among other things, the Payment Protection Program (PPP) administered...more
Unfortunately, the PPP Loan fall-out is far from over. As we noted in the last blog on PPP issues, we are seeing a number of PPP Forgiveness denials for a number of different reasons, and, along with that, we are seeing the...more
Since the enactment of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020, Congress has enacted subsequent laws and the U.S. Small Business Administration (the “SBA”) and the U.S...more
On July 29, 2021, the Department of the Treasury published updates to its Paycheck Protection Program FAQs. The updates come in response to the Small Business Administration’s (SBA) decision to discontinue the use of its Loan...more
The Paycheck Protection Program closed on May 28, 2021. The SBA is no longer accepting new applications from participating lenders. The following FAQs are for informational purposes only and to assist borrowers who obtained...more
Our previous articles have summarized the Paycheck Protection Program (“PPP”) created under the Federal CARES Act: CARES Act: Paycheck Protection Program Loans, CARES Act: Loan Applications, CARES Act: Loan Forgiveness...more
On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits and...more
On Monday, February 22, 2021, the Biden administration announced several reforms to the Paycheck Protection Program (PPP), the main U.S. COVID-19 aid program for small businesses, to further ensure equitable access for the...more
On January 19, 2021, the Small Business Administration (SBA) and the Department of the Treasury (Treasury) issued the Interim Final Rule on Loan Forgiveness Requirements and Loan Review Procedures as Amended by Economic Aid...more
Previously we reported on the various types of loan relief available under the Coronavirus Aid, Relief, and Economic Security (CARES) Act signed into law on March 27, 2020....more
On December 27, 2020, the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act was signed into law as part of the Consolidated Appropriations Act, 2021 (the Act). The Act reopens the Paycheck Protection...more
The Consolidated Appropriations Act, 2021 (H.R. 133-116) added $900 billion in stimulus relief to the spending packages dedicated to fighting the economic woes wrought by the COVID-19 pandemic. Title III of Division M of the...more
On January 19, SBA issued an interim final rule governing forgiveness of Paycheck Protection Program loans and also issued new versions of the three forgiveness application forms, including a streamlined form for loans up to...more
The new Economic Aid Act passed by Congress authorizes new PPP loans for first-time borrowers, but also additional PPP loans for those that already received a loan last year....more
On December 27, 2020, President Trump signed the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the Economic Aid Act) (Pub. L. 116-260) into law to provide continued assistance to individuals and...more
Signed into law on December 27, 2020, The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act creates a second opportunity for businesses that have utilized the full amount of their First Draw Paycheck...more
While the President vetoed the 2021 NDAA—and has put COVID relief into question—he has not yet acted on the Consolidated Appropriations Act, 2021, which contained the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and...more
The Internal Revenue Service recently released Revenue Ruling 2020-27 and Revenue Procedure 2020-51, which provide guidance on the deductibility of certain expenses paid or incurred in a taxpayer’s business using loan...more
On November 18, 2020, the IRS issued Revenue Ruling 2020-27 (Ruling), which provided an answer to the question that Paycheck Protection Program (PPP) loan borrowers have been asking for months: can borrowers who received PPP...more
The Paycheck Protection Program closed on August 8. The SBA is no longer accepting new applications from participating lenders. The following FAQs are for informational purposes only and to assist borrowers who obtained PPP...more
The U.S. Small Business Administration (“SBA”) recently released additional details relevant to those participating in the Paycheck Protection Program (“PPP”). In particular, on October 26, 2020, the SBA posted a notice...more
How is Change in Ownership Defined? On October 2, 2020 the Small Business Administration published SBA Procedural Notice (5000-20057) (the “Notice”), which was effective on that date. The Notice outlines rules that apply...more
The Small Business Administration recently published a procedural notice on changes of ownership for PPP borrowers. One specific area where we’ve seen confusion is whether the procedural notice requires a buyer to assume all...more
As previously discussed, on October 2, 2020, the SBA published Procedural Notice 5000-20057 addressing Paycheck Protection Program Loans and Changes of Ownership. Based on a review of memos on the subject by other law firms...more
The Paycheck Protection Program (the “PPP”) created under the CARES Act has provided much needed assistance to millions of businesses and other organizations operating in the United States that have been impacted by the...more