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Top 10 Insights from the SBA’s PPP Loan Forgiveness Application
The National Law Review· 2 weeks agoWhile the term of the “Covered Period” for loan forgiveness has not changed – this is still the eight-week period that starts on the first date of disbursement ...
SBA Provides Safe Harbor For Certifying Need For PPP Loans
The National Law Review· 1 week agoNew SBA guidance says PPP borrowers of under $2 million are granted safe harbor and deemed to have made required good-faith certification of necessity.
Frequently Asked Questions: Paycheck Protection Program Loan Forgiveness
The National Law Review· 1 week agoOn May 15, 2020, the Small Business Administration (SBA) and the U.S. Treasury Department released their much anticipated Loan
PPP Loan Audits Could Affect Millions of Borrowers | JD Supra
JD Supra· 1 week agoThere is growing concern among PPP Loan recipients of potential audits related to the SBA’s Office of Inspector General’s estimate that up to one-third ...
What the Hospitality Industry Should Know About New Regulations and Guidance for the CARES Act
The National Law Review· 2 weeks ago...Hospitality Practice Group recently described in a blog post, on May 3, 2020, the SBA issued several new questions and answers to their SBA CARES Act FAQs, including Question #40, which indicated that an employer’s ability to obtain forgiveness of a Paycheck Protection Program (“PPP”) loan under...
Metropolitan PD Officer and a Maryland Accountant Plead Guilty to COVID Emergency Loan Fraud, Reaped...
Sierra Sun Times· 1 day agoOwen M. Grigsby, 44, of Waldorf, Maryland, and Himmeh Kuawogai, 46, of Ellicott City, Maryland,...
If You File a Schedule C, Take Note: SBA Offers Guidance for Self-Employed PPP Loan Applicants
The National Law Review· 2 weeks ago...April 14, 2020, the Small Business Administration ("SBA") has guaranteed over one million loans under the Paycheck Protection Program...U.S. have been tasked with serving as conduits for distributing $349 billion in federal loan funds made available for the PPP, with approximately $296 billion...
Additional Guidance Issued on PPP Loan Forgiveness, Loan Review Procedures
The National Law Review· 1 week agoThe rule does not provide a time frame within which a business must submit the loan forgiveness application. The rule does clarify that ...
Overview of the CARES Act's Paycheck Protection Loan Program
The National Law Review· 1 week agoAmong the provisions of the CARES Act is the Paycheck Protection Loan Program (“PPP”), a new $349 billion forgivable business loan program under the Small ...
COVID-19: Understanding the Borrower Certification Requirements under the Paycheck Protection...
The National Law Review· 1 week ago...always a broader definition than the “small business concern” that is normally the standard needed to qualify for a loan guaranteed by the Small Business Association (SBA) under Section 7(a) of the Small Business Act.[1] Congress intended that the CARES Act would provide badly needed loans to a...