RECENT DEVELOPMENTS -
October, 2, 2020: 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 Employees and PPP lenders as...more
The SBA will begin accepting PPP forgiveness applications from lenders on August 10, subject to extension if any new legislative amendments to the forgiveness process are adopted....more
Disbursement of PPP Loan Proceeds -
Questions persist regarding how loans under the Paycheck Protection Program (“PPP”) are to be funded by lenders. Specifically, some Borrowers have sought multiple draws hoping to achieve...more
Following criticism that large restaurant chains were able to obtain funds before the loan program had been depleted - seemingly shutting out much smaller restaurants - Shake Shack has publicly announced that it is returning...more
4/23/2020
/ Borrowers ,
Certifications ,
Eligibility ,
Franchises ,
Good Faith ,
Midsize and Large Business Loans ,
New Guidance ,
Paycheck Protection Program (PPP) ,
Publicly-Traded Companies ,
Restaurant Industry ,
Returned Funds ,
Safe Harbors ,
SBA