Introduction
•The First Draw Consolidated IFR also applies to loan forgiveness applications submitted under the Paycheck Protection Program before enactment of the Economic Aid Act where SBA has not remitted the...more
I. Introduction-
On December 27, 2020, President Trump signed the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Economic Aid Act) into law to provide continued assistance to individuals and...more
Certain provisions of the Coronavirus/COVID-19 economic stimulus legislation are subject to the issuance of government regulations and other government action; thus, certain details regarding the legislation may be clarified...more
Congratulations–you have successfully received an SBA PPP loan! While you are likely thinking that the hard work is over, you are, unfortunately, wrong. The responsibilities of a PPP loan recipient extend beyond the four...more
5/18/2020
/ Best Practices ,
CARES Act ,
Coronavirus/COVID-19 ,
Crisis Management ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Recordkeeping Requirements ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business
Although the primary focus of this Client Alert is to summarize the key takeaways from the Enhancement Act (which as of April 23, 2020, at noon, awaits House and presidential approval), at the outset we would like to note...more
There’s been confusion about the rules governing eligibility for SBA Section 7(a) loans, which we’ve elsewhere written about.1 That confusion focused on whether to conduct “affiliation” analysis under Section in Title 13 CFR...more