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Top 10 Insights from the SBA’s PPP Loan Forgiveness Application
The National Law Review· 6 days 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 ...
Frequently Asked Questions: Paycheck Protection Program Loan Forgiveness
The National Law Review· 1 day agoOn May 15, 2020, the Small Business Administration (SBA) and the U.S. Treasury Department released their much anticipated Loan
SBA Provides Safe Harbor For Certifying Need For PPP Loans
The National Law Review· 4 days 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.
PPP Loan Audits Could Affect Millions of Borrowers | JD Supra
JD Supra· 3 days 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 ...
Additional Guidance Issued on PPP Loan Forgiveness, Loan Review Procedures
The National Law Review· 2 days agoThe rule does not provide a time frame within which a business must submit the loan forgiveness application. The rule does clarify that ...
If You File a Schedule C, Take Note: SBA Offers Guidance for Self-Employed PPP Loan Applicants
The National Law Review· 6 days 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...
What the Hospitality Industry Should Know About New Regulations and Guidance for the CARES Act
The National Law Review· 5 days 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...
Overview of the CARES Act's Paycheck Protection Loan Program
The National Law Review· 3 days 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 ...
The PPP Turns Four: Lessons Learned and What Lies Ahead | JD Supra
JD Supra· 1 week agoFour years ago this month, lenders began dispersing Paycheck Protection Program (PPP) loans to small businesses in what would become the largest Small Business Administration (SBA< ...
COVID-19: Understanding the Borrower Certification Requirements under the Paycheck Protection...
The National Law Review· 2 days 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...
