The Small Business Administration ("SBA") has announced, via the Paycheck Protection Program FAQs, that it has discontinued use of the Loan Necessity Questionnaire, citing delays caused by loan necessity reviews. These do not...more
On January 6, 2021, the Small Business Association ("SBA") and the Treasury Department released interim final rules for the Paycheck Protection Program (“PPP”) Second Draw Program, which was created as part of the stimulus...more
1/12/2021
/ CARES Act ,
Coronavirus/COVID-19 ,
Economic Aid Act ,
Federal Loans ,
Financial Stimulus ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Exempt Entities
Late Monday evening, Congress passed a $900 billion stimulus bill that, among other things, includes some continuation of relief (albeit on a modified basis) for individuals and businesses impacted by the coronavirus...more
The SBA, in consultation with the Treasury, released another set of interim final rules, dated August 27, 2020 regarding forgivable costs under the Paycheck Protection Program.
In these rules, the SBA discusses...more
The Interim Final Rule (the “Rule”) pertaining to applications for the Paycheck Protection Program was released this evening. A few unexpected positions have been taken (and some ambiguity/uncertainty still remains)...more
The COVID-19 global health pandemic is proving to have long-reaching economic effects. The New Jersey Economic Development Authority has introduced a multitude of programs to provide aid to New Jersey businesses....more
The anxiously awaited CARES Act was approved by Congress and signed by the President on Friday March 27. The Act is a complicated 854 pages long, with many ambiguities and gaps which will need clarification in the coming days...more