News & Analysis as of

Small Business Administration › U.S. Treasury › Lenders

The Small Business Administration is a United States federal agency established in 1953 by the Small Business Act. The SBA is dedicated to assisting and supporting small business and entreprenuers. The SBA... more +
The Small Business Administration is a United States federal agency established in 1953 by the Small Business Act. The SBA is dedicated to assisting and supporting small business and entreprenuers. The SBA carries out its mission through a variety of programs including providing financial and federal contract procurement assistance, management assistance, and specialized outreach to women, minorities and armed forces veterans. less -
Husch Blackwell LLP

PPP Loan Audits Could Affect Millions of Borrowers

Husch Blackwell LLP on

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

Bowditch & Dewey

New PPP Funding Hits the Streets – A Primer on What Businesses Should Know

Bowditch & Dewey on

Struggling businesses adversely impacted by the COVID-19 pandemic now have access to a second round of Paycheck Protection Program (“PPP”) stimulus funding enacted as part of the Economic Aid to Hard Hit Small Businesses,...more

Ballard Spahr LLP

FinCEN Issues PPP Lender Guidance

Ballard Spahr LLP on

With the third round of lending through the Paycheck Protection Program (“PPP”) in full swing, the Small Business Administration (“SBA”) – administrator of the PPP – has developed new guidance in consultation with the United...more

Proskauer Rose LLP

Where is Main Street? The Federal Reserve Provides Guidance on the Main Street Lending Program (Updated September 2020)

Proskauer Rose LLP on

On August 24, 2020, the Federal Reserve Bank of Boston (the “Boston Fed”) published an updated set of Frequently Asked Questions for the Business Facilities (defined below) and an updated set of Frequently Asked Questions for...more

Ballard Spahr LLP

PPP Lenders and Fraudulent Borrowers: False Claims Act Liability and AML Risk

Ballard Spahr LLP on

Can BSA/AML Requirements Lead to Deemed Knowledge of Borrower Fraud? The first two weeks of August brought a milestone of sorts in the ongoing recovery from the economic downturn brought on by the COVID-19 pandemic. The...more

Verrill

PPP Forgiveness Planning Scenarios

Verrill on

How to use this article: You already know that the Paycheck Protection Program (PPP) is highly complex, with intertwining conditions, exceptions, and definitions that defy simple explanation. This article assumes that you are...more

White and Williams LLP

You Have Questions…SBA Releases PPP Loan Forgiveness FAQs

White and Williams LLP on

The U.S. Small Business Administration (SBA), in consultation with the U.S. Department of the Treasury (Treasury), recently released a series of Frequently Asked Questions (the Forgiveness FAQs) focusing on forgiveness of...more

Partridge Snow & Hahn LLP

New PPP Loan Forgiveness FAQs Released

Partridge Snow & Hahn LLP on

On August 4, 2020, the U.S. Small Business Administration (“SBA”) and the Department of the Treasury released long-awaited FAQs providing guidance to both lenders and borrowers on Paycheck Protection Program (“PPP”) loan...more

McGuireWoods LLP

SBA Releases Company PPP Loan Data — Is Your Data Accurate and Why Does It Matter?

McGuireWoods LLP on

On July 6, 2020, the Small Business Administration (SBA) and Department of the Treasury released detailed Paycheck Protection Program (PPP) loan-level data to the public. This information includes loan amounts, borrower...more

Adler Pollock & Sheehan P.C.

Federal Reserve Approves Nonprofit Organizations For Main Street Lending Program And Releases Updated Term Sheets

Adler Pollock & Sheehan P.C. on

On June 15, 2020, the Board of Governors of the Federal Reserve System (the “Federal Reserve”) proposed the expansion of its Main Street Lending Program (the “Program”), which was originally established to support lending to...more

Hinshaw & Culbertson LLP

SBA and Treasury Provide PPP Loan Forgiveness Applications

Hinshaw & Culbertson LLP on

Last month, the U.S. Treasury and the Small Business Administration (SBA) released two Paycheck Protection Program (PPP) loan forgiveness applications. The first was a new EZ PPP loan forgiveness application with instructions...more

Goodwin

Agent Fee Suits and PPP Loans: Clarity Could Be Coming

Goodwin on

During a House Financial Services Committee (HFSC) oversight hearing on June 30, 2020, Treasury Secretary Steven Mnuchin hinted that clarification may be coming on whether agents helping small businesses apply for Paycheck...more

Burr & Forman

SBA Releases List of PPP Borrowers – Which Businesses Are Now Audit Targets?

Burr & Forman on

The SBA and the United States Treasury have now released a list of over 600,000 PPP loan borrowers who received PPP loans of $150,000 or more. This list includes the name of the borrowers, the general loan range of the PPP...more

Goodwin

Financial Services Weekly Roundup: Code Libor – SEC And OCIE Issue Risk Alert In Preparation Of Libor Discontinuation

Goodwin on

In This Issue. The Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert about the scope and content of examinations OCIE plans to conduct of various...more

Goodwin

Financial Services Weekly Roundup: Treasury And SBA Codify Changes To PPP Flexibility Act

Goodwin on

In This Issue. The U.S. Department of the Treasury (Treasury) and the Small Business Administration (SBA) released an interim final rule to reflect changes made by H.R. 7010, the Paycheck Protection Program Flexibility Act,...more

Adler Pollock & Sheehan P.C.

Federal Reserve Considers Expanding The Main Street Lending Program To Accommodate Nonprofit Organizations – Comments Welcome

Adler Pollock & Sheehan P.C. on

The Board of Governors of the Federal Reserve System (the “Federal Reserve”) is seeking public comment on a proposal to expand the availability of its existing Main Street Lending Program (the “Program”) to nonprofit...more

Hutchison PLLC

Client Alert: The Paycheck Protection Program Flexibility Act - What You Need to Know

Hutchison PLLC on

On Friday, June 5, 2020, the Paycheck Protection Program Flexibility Act (PPPFA) became law. The PPPFA amends certain provisions of the Paycheck Protection Program (PPP). Among other things, the PPPFA is largely aimed at...more

Bracewell LLP

New Rules Issued Clarifying PPP Loan Forgiveness, Lender Responsibilities and SBA Review

Bracewell LLP on

On May 22, the SBA and Treasury released two additional interim final rules (IFRs) on PPP loan forgiveness, providing specific guidance to borrowers and lenders regarding their responsibilities, as well as information on the...more

White and Williams LLP

Making It Up As We Go Along?: Real-Time Changes to Paycheck Protection Program Continue with Release of Additional Rules

White and Williams LLP on

The U.S. Small Business Administration (SBA) continues to fine-tune the terms of the Paycheck Protection Program (PPP) with the release of a fifth interim final rule on disbursements on April 28th (the Fifth Rule) and a sixth...more

Bradley Arant Boult Cummings LLP

Federal Reserve Expands Scope of Main Street Lending Program and Announces New Details

Bradley Arant Boult Cummings LLP on

On April 30, the Federal Reserve announced substantial changes to the initial terms of its Main Street Lending Program originally released on April 9, 2020: After receiving over 2,200 comment letters and consulting with...more

Bass, Berry & Sims PLC

Main Street Lending Program 2.0 Expands Loan Options for Small and Mid-Sized Businesses, but Practical Accessibility of Program to...

Bass, Berry & Sims PLC on

On April 9, the U.S. Treasury Department (Treasury) and Federal Reserve released initial details regarding the establishment of the Main Street Business Lending Program (Main Street Program) to provide up to $600 billion in...more

Bowditch & Dewey

PPP Loan Applicants Directed to Assess (or Reassess) the Necessity for Loan Funds; SBA Imposes May 7th Deadline to Return Loans...

Bowditch & Dewey on

The U.S. Department of the Treasury recently issued additional guidance in the form of Frequently Asked Questions (“FAQ”) for businesses that have received or are still seeking PPP loans. The critical piece of the FAQ is the...more

White and Williams LLP

The Main Street Business Lending Program – Frequently Asked Questions

White and Williams LLP on

On April 30, 2020, the Department of the Treasury and the Federal Reserve Board released a set of “Frequently Asked Questions” (FAQs) relating to the Main Street Business Lending Program (Main Street Program), which was...more

Miller Canfield

COVID-19: Federal Reserve’s Main Street Lending Program: What Businesses Need to Know to Prepare

Miller Canfield on

On April 9, 2020, the Federal Reserve, acting under the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) and Section 13(3) of the Federal Reserve Act (12 USC §344), announced the creation of a new “Main Street...more

Chambliss, Bahner & Stophel, P.C.

CARES Act Essentials: What You Need to Know by Topic

Chambliss, Bahner & Stophel, P.C. on

In response to unprecedented health care demands and economic conditions caused by the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted on Friday, March 27, 2020. The Act...more

31 Results
 / 
View per page
Page: of 2
Next »

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide