On May 13, 2020, SBA issued new guidance with respect to a borrower’s good faith certification that “[c]urrent economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant,” as...more
On May 5, 2020, SBA/Treasury finally answered the important question of whether a small business located in the US needed to count the number of employees of its “foreign affiliates” in its size standard eligibility...more
Businesses now have one extra week to conduct their risk/reward analyses to decide whether to return their PPP loans. In prior guidance (Treasury FAQ 31 and 37), the SBA reminded borrowers that they “should review carefully...more