This article was updated May 6, 2020. On May 5, 2020, the Small Business Administration issued new FAQs which included a new Question and Answer number 43 which extended the penalty-free repayment period to May 14, 2020....more
The Small Business Administration (“SBA”) issued new FAQs on April 23, 2020, to provide further guidance on the Payroll Protection Plan (“PPP”) loan program contained in the CARES Act. Of note, the SBA added to its previously...more
On March 13, 2020, the President declared a national emergency under the Robert T. Stafford Disaster Relief and Emergency Assistance Act for the COVID-19 pandemic. This action will free up federal resources to combat the...more