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Small Business Administration › U.S. Treasury › Paycheck Protection Program (PPP)

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

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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

PilieroMazza PLLC

Weekly Update for Government Contractors and Commercial Businesses – January 2023 #2

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SBA Releases Preview of New HUBZone Maps Effective July 1, 2023 - HUBZone contractors have been anxiously awaiting updates to the HUBZone maps. In 2021, the Small Business Administration (SBA) extended the “freeze” on the...more

Wiley Rein LLP

PPP Recipients Beware – Your Loan Forgiveness May Be a Credit Due Back to Government

Wiley Rein LLP on

One of most significant aspects of the 2020 Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was the “Paycheck Protection Program” (PPP). PPP, administered by the Small Business Administration (SBA), authorized...more

Morrison & Foerster LLP

PPP Loans: Overview of Prior Guidance

Morrison & Foerster LLP on

The Paycheck Protection Program (“PPP”) began with rushed legislation and a race for financial support in the middle of a pandemic. This race was hardly a straight line as the Small Business Administration (“SBA”) and the...more

Schwabe, Williamson & Wyatt PC

Asking for Forgiveness: Further Revised PPP Loan Forgiveness Applications and Guidance - Update

Schwabe, Williamson & Wyatt PC on

Below are 10 important things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness ‎Applications and the detailed instructions for the further revised and updated applications posted on July 30, 2021, ‎as...more

Sheppard Mullin Richter & Hampton LLP

House Subcommittee Launches Investigation into FinTech Companies’ Role in Allegedly Fraudulent PPP Loans

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The House Select Subcommittee on the Coronavirus Crisis recently announced an investigation into the role of four Fintech companies and partner banks in issuing allegedly fraudulent Paycheck Protection Program (PPP) loans. ...more

Chambliss, Bahner & Stophel, P.C.

Initial PRF Reporting Deadline Extended to September 30; Other New Deadlines Provide

Chambliss, Bahner & Stophel, P.C. on

On Friday, June 11, 2021, the Department of Health and Human Services (HHS) announced four new deadlines for using and reporting on Provider Relief Fund (PRF) distributions. The new guidance was issued through an updated...more

Lowenstein Sandler LLP

Paycheck Protection Program Round 2: FAQs For Microbusinesses - June 2021

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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

Fox Rothschild LLP

COVID-19 Fraud Task Force Established

Fox Rothschild LLP on

Intensifying its crackdown on suspected fraud in pandemic relief programs, the U.S. Department of Justice has established the COVID-19 Fraud Enforcement Task Force, sending a clear message that any individual or business that...more

Akin Gump Strauss Hauer & Feld LLP

[Podcast] What You Need to Know About the Paycheck Protection Program

Akin Gump Strauss Hauer & Feld LLP on

In this episode, Akin Gump government contracts partner Angela Styles discusses the origins, workings, track record and future of the Paycheck Protection Program (PPP). Among the topics covered: - Self-certification,...more

Miller Canfield

UPDATED: PPP Application Deadline Extended to May 31, 2021

Miller Canfield on

UPDATED, APRIL 5, 2021: On March 30, 2021, President Biden signed the PPP Extension Act of 2021 into law extending the Paycheck Protection Program from March 31, 2021, to June 30, 2021. However, the SBA may not accept new...more

Lowenstein Sandler LLP

Paycheck Protection Program: FAQs For Microbusinesses - UPDATED March 2021 #3

Lowenstein Sandler LLP on

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

McCarter & English, LLP

New PPP Rules Benefit Self-Employed Individuals

McCarter & English, LLP on

Last year, self-employed individuals who conducted their business without any employees could qualify for a Paycheck Protection Program (PPP) loan in an amount equal to approximately 20.8% (2.5 months divided by 12 months) of...more

Lowenstein Sandler LLP

Paycheck Protection Program: FAQs For Microbusinesses - UPDATED March 2021 #2

Lowenstein Sandler LLP on

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

King & Spalding

Prosecutors Using FIRREA to Investigate Pandemic Conduct

King & Spalding on

The Financial Institutions Reform, Recovery and Enforcement Act of 1989 (“FIRREA”) is a powerful tool in the prosecutorial arsenal. Due to its long statute of limitations, expansive penalty provision, and low civil burden of...more

Hinshaw & Culbertson LLP

PPP Updates: Calculation of the Loan Amount and Use of Loan Proceeds for Individuals Who File IRS Form 1040, Schedule C and...

Hinshaw & Culbertson LLP on

On March 3, 2021, the Small Business Administration (SBA), in conjunction with the U.S. Department of the Treasury, adopted an interim final rule (IFR) that: (1) allows individuals who file an IRS Form 1040, Schedule C to...more

Morrison & Foerster LLP

DOJ Enforcement Actions Involving COVID-19 Relief Fraud: An Update

Morrison & Foerster LLP on

Soon after Congress passed the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) in March 2020, the Criminal Division of the U.S. Department of Justice (DOJ) moved quickly to address potential COVID-19 related...more

Lowenstein Sandler LLP

Paycheck Protection Program: FAQs For Microbusinesses - UPDATED March 2021

Lowenstein Sandler LLP on

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

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

Lowenstein Sandler LLP

Paycheck Protection Program: FAQs For Microbusinesses - February 2021

Lowenstein Sandler LLP on

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

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

Husch Blackwell LLP

FAQ: CARES Act SBA Loan Programs - UPDATED February 2021

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Congress's coronavirus financial relief package, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was the largest economic relief bill in United States history and supported individuals and businesses affected...more

Orrick - Finance 20/20

SBA and Treasury Announce PPP Re-Opening; Issue New Guidance

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On January 8, the U.S. Small Business Administration, in consultation with the Treasury Department, announced that the Paycheck Protection Program will re-open the week of January 11 for new borrowers and certain existing PPP...more

Schwabe, Williamson & Wyatt PC

Economic Aid Act: 10 Things to Know about Second Draw PPP Loans - Update

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Late on January 6, 2021, the Small Business Administration (the “SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans”...more

Lowenstein Sandler LLP

Paycheck Protection Program: FAQs For Microbusinesses - UPDATED January 2020

Lowenstein Sandler LLP on

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...more

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