For-profit and non-profit borrowers of PPP loans of $2MM or more are now required to submit additional forms.
On October 26, 2020, the SBA published a notice seeking Office of Management and Budget (OMB) approval of new...more
On October 8, 2020, the Small Business Administration (“SBA”) issued an interim final rule in conjunction with the U.S. Department of Treasury (“Treasury”), providing for a simplified forgiveness application for recipients of...more
SBA Procedural Notice Regarding PPP Loans and Changes of Ownership -
On Friday, October 2, the SBA issued a procedural notice regarding PPP Loans and Changes of Ownership. The Notice provides some level of clarity for SBA...more
Keep your business in the know during the COVID-19 outbreak.
With information concerning the Coronavirus (COVID-19) rapidly evolving, DRM is committed to providing you relevant and timely guidance on how to navigate this...more
On August 11, the SBA issued an Interim Final Rule regarding the appeal of SBA loan review decisions made under the Paycheck Protection Program (“PPP”). The Interim Final Rule is immediately effective, and while many lenders...more
8/18/2020
/ Administrative Appeals ,
Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
Eligibility Determination ,
Interim Final Rules (IFR) ,
Lenders ,
Loan Forgiveness ,
Office of Hearings and Appeals (OHA) ,
Paycheck Protection Program (PPP) ,
SBA ,
Small Business Loans ,
Unauthorized Transactions
With information concerning the Coronavirus (COVID-19) rapidly evolving, DRM is committed to providing you relevant and timely guidance on how to navigate this challenging time. We will update this site regularly as new...more
RECENT DEVELOPMENTS -
July 20, 2020: A new bill is now pending in the Senate which enhances lender protections and facilitates forgiveness for those PPP borrowers receiving PPP loans of less than $150,000. Proponents of...more
For businesses that received a loan through the Paycheck Protection Program (PPP), the rules are still being refined, regulations continue to evolve and new guidance continues to be published. Despite the rapidly evolving...more
5/28/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Documentation ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Payroll Expenses ,
Relief Measures ,
Small Business ,
Small Business Loans ,
Tax Deductions ,
Wage and Hour