Effective July 28, 2021, the Small Business Administration (“SBA”) announced a new interim final rule that, inter alia, extends the “deferment period” for borrowers that appeal a final SBA loan review decision. Borrowers are...more
In an effort to achieve an agreement before the expiration of many of the CARES Act1 economic relief measures, on December 21, 2020, the U.S. Congress passed the Economic Aid to Hard-Hit Small Businesses, Nonprofits and...more
Since inception, the Paycheck Protection Program (the “PPP”) under sections 1102 and 1106 of the Coronavirus Aid, Relief, and Economic Security Act has undergone numerous and material refinements by the Small Business...more
The Paycheck Protection Program (the “PPP”) created under the CARES Act has provided much needed assistance to millions of businesses and other organizations operating in the United States that have been impacted by the...more
10/14/2020
/ Acquisitions ,
CARES Act ,
Change in Control ,
Change in Ownership ,
Coronavirus/COVID-19 ,
Federal Loans ,
Loan Forgiveness ,
Mergers ,
New Guidance ,
Paycheck Protection Program (PPP) ,
SBA ,
SBA Lending Programs
On Wednesday evening of June 3, 2020, the U.S. Congress enacted material modifications to the CARES Act in the Paycheck Protection Program Flexibility Act of 2020 (the “Act”). The Act, originally introduced by Representative...more
Due to economic uncertainty caused by COVID-19, Congress created the Paycheck Protection Program (the “PPP”) under sections 1102 and 1106 of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). The PPP...more