On January 8, 2021, the U.S. Small Business Administration (“SBA”), in consultation with the Department of Treasury, announced the re-opening of the Paycheck Protection Program (“PPP”) to first-time borrowers and certain...more
The Federal Reserve recently expanded its Main Street Lending Program (the “Program”) to three separate loan facilities: the Main Street New Loan Facility, the Main Street Priority Loan Facility and the Main Street Expanded...more
On June 5, 2020, the President signed the Paycheck Protection Program Flexibility Act of 2020 (the “Act”), a bipartisan measure aimed at providing additional flexibility and extended relief to small business borrowers under...more
On Friday, May 15, 2020, the Small Business Administration (“SBA”) released the Paycheck Protection Program Loan Forgiveness Application (the “Application”) and instructions (the “Instructions”), which, together with...more
The Small Business Administration (“SBA”) has issued a supplemental Interim Final Rule (the “Rule”), along with additional Frequently Asked Questions issued in consultation with the Department of Treasury (released on Friday,...more
On April 23, 2020, the Small Business Administration (“SBA”), in consultation with the Department of Treasury, released supplemental guidance in the form of Frequently Asked Questions (“FAQs”) with respect to the...more
As small businesses attempt to navigate the Paycheck Protection Program and other available federal relief, mid-sized businesses have awaited guidance on the Main Street Lending Program (the “Program”) and related corporate...more
On April 6th, the Small Business Administration (“SBA”), in consultation with the Treasury Department, released Frequently Asked Questions (“FAQs”) designed to address borrower and lender questions around the implementation...more
In connection with the relief being offered to small businesses as a result of the impact of COVID-19, the CARES Act has modified certain provisions of the Small Business Administration’s (“SBA”) size and affiliation...more
The Small Business Administration (“SBA”) has released Interim Final Rules (“Rules”) regarding implementation of the Paycheck Protection Program (“PPP”) under the CARES Act. These Rules are intended to provide guidance to...more
After protracted negotiations, Congress has reached an agreement with respect to the Coronavirus Aid, Relief, and Economic Security Act, commonly referred to as the CARES Act (the “Act”), an unprecedented stimulus package...more
As COVID-19 continues to negatively affect commerce around the country, there are different programs available to help businesses in need. In addition to the Small Business Association’s recent expansion of its Economic...more
In an effort to assist small businesses impacted by the Coronavirus, the Small Business Association (SBA) has recently expanded access to its Economic Injury Disaster Loan program for small businesses and private nonprofit...more