News & Analysis as of

Small Business Applications

Davis Wright Tremaine LLP

SBA Will Pause Certification Applications During Website Maintenance

On August 1, 2024, the Small Business Administration (SBA) will temporarily stop accepting applications for small-business certifications while it upgrades the certify.sba.gov website. This will affect new applications and...more

Potomac Law Group, PLLC

SBA 8(a) Business Development Program - How It Can Benefit Your Company and How to Get Certified

If you are a small business owner, you may be interested in applying for the 8(a) Business Development (BD) program, a nine-year federal program that helps eligible businesses owned and controlled by socially and economically...more

Woods Rogers

Defense Department’s Proposed CMMC Rule Will Impose New Cybersecurity Requirements on Contractors

Woods Rogers on

The U.S. Department of Defense (DoD) released a proposed rule to implement its Cybersecurity Maturity Model Certification (CMMC) program, which would establish a comprehensive set of cybersecurity requirements applicable to...more

Maynard Nexsen

SDVOSB Self-Certification Grace Period to Expire: Submit Applications by Dec 31 To Remain Eligible While Applications are Pending

Maynard Nexsen on

The 2023 clock is winding down, meaning some folks are planning New Year's Eve parties, and others are googling the lyrics to Auld Lang Syne. For service-disabled veteran-owned small businesses ("SDVOSB"), the end of the...more

CDF Labor Law LLP

COVID Supplemental Paid Sick Leave (SPSL) Relief Program Opens for Eligible Entities

CDF Labor Law LLP on

Some good news for small California employers and non-profits that paid Supplemental Paid Sick Leave (SPSL) in 2022. Small businesses may apply for grants up to $50,000 to reimburse them for sums paid for COVID-19 related...more

Schwabe, Williamson & Wyatt PC

First Draw Loans at or Over $2 million—SBA Discontinues Use of Necessity Questionnaires and What Is Next - Update

As per our earlier articles, in late 2020, the SBA began requiring borrowers with First Draw PPP loans $2 million or greater to complete a PPP Loan Necessity Questionnaire (Form 3509 (For Profit Borrowers) or Form 3510...more

Schwabe, Williamson & Wyatt PC

First Draw Loans at or Over $2 million—SBA Discontinues Use of Necessity Questionnaires and What Is Next

As per our earlier articles, in late 2020, the SBA began requiring borrowers with First Draw PPP loans $2 million or greater to complete a PPP Loan Necessity Questionnaire (Form 3509 (For Profit Borrowers) or Form 3510...more

Schwabe, Williamson & Wyatt PC

Revised PPP Loan Forgiveness Applications and Guidance - Update #4

Below are 10 important things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness ‎Applications and the detailed instructions for the revised and updated applications posted on May 24, 2021, ‎as well as...more

Schwabe, Williamson & Wyatt PC

10 Things to Know about Second Draw PPP Loans as Updated for the Economic Aid Act and the ARP Act - Update #5

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” (“Second...more

Schwabe, Williamson & Wyatt PC

What to Know about the Paycheck Protection Program, Round Two - Update

Unpacking the Economic Aid Act: Consolidated First Draw PPP Interim Final Rule, New First Draw PPP Loans, and Increases to First Draw PPP Loans (January 14, 2021) - Late on January 6, 2021, the Small Business...more

Schwabe, Williamson & Wyatt PC

Economic Aid Act: 10 Things to Know about Second Draw PPP Loans - Update #2

Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans” (“Second Draw Rules”). These rules announced the implementation of section 311 of the Economic...more

Schwabe, Williamson & Wyatt PC

Why You May Want to Wait to File for PPP Loan Forgiveness and Other Tips - Update #8

Most Paycheck Protection Program (“PPP”) borrowers are working toward full forgiveness of their PPP loans and are anxious to get this process started. A borrower generally may submit a loan forgiveness application any time on...more

Schwabe, Williamson & Wyatt PC

Updated Key Considerations for PPP Documentation under the Economic Aid Act

Borrowers under the Small Business Administration’s (the “SBA”) Paycheck Protection Program (“PPP”) are required to either maintain or submit to lenders and the SBA certain documentation associated with their application for...more

Schwabe, Williamson & Wyatt PC

The Lender’s Role in the PPP Loan Review Process - After the Economic Aid Act: An Updated Guide to the PPP Loan Forgiveness Review...

Lenders play a large role in the Paycheck Protection Program (“PPP”) loan forgiveness review and appeals process. The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the “Economic Aid Act” or “PPP2...more

Schwabe, Williamson & Wyatt PC

Initial Takeaways and Agency Guidance for the Latest PPP Updates - After the Economic Aid Act: An Updated Guide to the PPP Loan...

On January 19, 2021, the Small Business Administration (the “SBA”) in consultation with the Department of Treasury (“Treasury”) posted new forgiveness application forms and the Interim Final Rule on Loan Forgiveness...more

Sheppard Mullin Richter & Hampton LLP

Paycheck Protection Program: SBA Issues Guidance on First Draw and Second Draw PPP Loans and Releases PPP Applications Pursuant to...

On January 6, 2020, the SBA published its 26th Interim Final Rule (the First Draw PPP IFR) and 27th Interim Final Rule (the Second Draw PPP IFR)[1] with respect to the Paycheck Protection Program (PPP), as reauthorized and...more

Schwabe, Williamson & Wyatt PC

What to Know about the Paycheck Protection Program, Round Two

Unpacking the Economic Aid Act: Consolidated First Draw PPP Interim Final Rule, New First Draw PPP Loans, and Increases to First Draw PPP Loans (January 14, 2021) - Late on January 6, 2021, the Small Business...more

Schwabe, Williamson & Wyatt PC

PPP Loans Over $2 Million and the PPP Necessity Questionnaires - Update

Starting around October 26, 2020, the Small Business Administrations (the “SBA”) asked some Paycheck Protection Program (“PPP”) lenders to provide certain questionnaires to PPP borrowers with loans over $2 million. The...more

Bond Schoeneck & King PLLC

Troubling PPP Update: SBA Intends to Require Borrowers with Loans Over $2 Million to Complete a New Loan Necessity Questionnaire

The Small Business Association (SBA) has circulated Paycheck Protection Program (PPP) loan necessity questionnaire forms that it intends to require borrowers with PPP loans in excess of $2 million to complete. It is expected...more

Perkins Coie

SBA Questions Borrowers About the Necessity of Their PPP Loans

Perkins Coie on

Over the course of the last week, the Small Business Administration (SBA) has reportedly begun quietly questioning borrowers who had received Paycheck Protection Program (PPP) loans about the “necessity” of their loans. On...more

McDermott Will & Emery

PPP Update: SBA Issues Loan Necessity Questionnaires with 10-Day Turnaround

McDermott Will & Emery on

The Small Business Administration (SBA) has released two loan necessity questionnaire forms (Form 3509 for for-profit borrowers and Form 3510 for nonprofits) for lenders to transmit to certain Paycheck Protection Program...more

Foley Hoag LLP

SBA Announces Simpler PPP Forgiveness for Loans Less Than $50k

Foley Hoag LLP on

The U.S. Small Business Administration (SBA) has announced that it is rolling out a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. The SBA claims the new, more streamlined...more

Schwabe, Williamson & Wyatt PC

Ten Things to Know About the PPP Loan Forgiveness Applications - Update #5

Below are the ten important things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness Applications and the detailed instructions for the applications posted on June 16, 2020, and October 8, 2020. There are...more

Schwabe, Williamson & Wyatt PC

A Guide to the SBA PPP Loan Forgiveness Review Process - Update #2

Borrowers applying for loan forgiveness under the Small Business Administration’s (“SBA”) Paycheck Protection Program (“PPP”) should familiarize themselves with the SBA guidance regarding the loan forgiveness review process....more

Sheppard Mullin Richter & Hampton LLP

Women-Owned Small Business Self-Certification Ends October 15, 2020 When SBA Begins Requiring Formal Government-Issued Or...

Beginning October 15, 2020, the U.S. Small Business Administration (“SBA”), implementing the 2015 National Defense Authorization Act (“NDAA”), will begin requiring women-owned small businesses (“WOSBs”) and economically...more

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