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SBA Issues Regulations on New Round of PPP Loans

On January 6, 2021, the U.S. Small Business Administration and the Department of Treasury released interim final rules related to the expansion and extension of the original Paycheck Protection Program (PPP) and the...more

Key Highlights of New Round of PPP Loans Included in COVID Relief Package

On December 21, 2020, Congress approved a $900 billion COVID-19 relief package (the Consolidated Appropriations Act, 2021 (the “Act”)), which included revisions and extensions of the Coronavirus Aid, Relief, and Economic...more

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

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

New SBA Guidance on Change in Ownership by PPP Borrowers

On October 2, 2020, the U.S. Small Business Administration (“SBA”) released new guidance on when SBA consent is required in connection with a change in ownership of an entity that has received Paycheck Protection Program...more

PPP Loan Forgiveness Guidance

On August 4, 2020, the U.S. Small Business Administration (SBA) issued New PPP Loan Forgiveness FAQs. These FAQs, together with previously released guidance and forgiveness applications and instructions, provide an outline...more

Main Street Lending Facilities under the CARES Act - Update

On April 30, 2020, the Board of Governors of the Federal Reserve System (the “Fed”) released further details regarding three lending programs (the “Main Street Facilities”) under the Coronavirus Aid, Relief and Economic...more

The U.S. Small Business Administration Releases Paycheck Protection Program Interim Regulations

On April 2, 2020, the U.S. Small Business Administration (the “SBA”) issued a new interim final rule that provides implementation guidelines for interpreting its Paycheck Protection Program (“PPP”). As discussed in our main...more

COVID-19 Relief Loans for Small Businesses - Updated

Small businesses adversely affected by COVID-19 may apply for special loans provided or guaranteed by the U.S. government. The program provided $349 billion available for two types of loans, both of which are now available...more

CARES Act Title IV Loans to Large and Midsize Businesses

In addition to the loans being made under the CARES Act to small businesses (typically with fewer than 500 employees), Title IV Subtitle A of the Act also provides nearly $500 billion in senior loans and guarantees to larger...more

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