Congress has extended the date by which Paycheck Protection Program (PPP) loan applications can be made to May 31 by passing the PPP Extension Act of 2021. Prior to enactment, the application deadline for First Draw PPP loans...more
In its massive new pandemic relief and stimulus package, Congress has significantly modified the Paycheck Protection Program (PPP) to allow for second draws from the program, to simplify the loan forgiveness process, to...more
On October 26, the Small Business Administration (SBA) published a notice in the Federal Register seeking approval from the Office of Management and Budget to release two new forms to be sent to borrowers under the Paycheck...more
11/10/2020
/ Assessment ,
Audits ,
Borrowers ,
CARES Act ,
Federal Register ,
For-Profit Corporations ,
Liquidity ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
SBA ,
U.S. Treasury
On June 3, 2020, the Senate unanimously approved H.R., 7010, the Paycheck Protection Program Flexibility Act of 2020, or Flex Act, modifying certain provisions of the CARES Act relating to loan forgiveness under the Paycheck...more
On April 30, 2020, the Federal Reserve Board of Governors issued revised term sheets for its Main Street Lending Program, which is not yet operational. The Main Street Lending Program was authorized by the Coronavirus...more
Help for small business harmed by the COVID-19 pandemic-
Cash-strapped small businesses may find a lifeline in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the economic stimulus act that...more