The U.S. Small Business Administration (SBA) recently announced its plan to require Paycheck Protection Program (PPP) lenders to issue “loan necessity” questionnaires to all borrowers of PPP loans of $2 million or more. On...more
On Friday June 5, President Trump signed into law the Paycheck Protection Flexibility Act which makes the following tweaks to the original terms of the Paycheck Protection Loan Program.
EXTENSION OF THE COVERED PERIOD
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6/9/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Loan Forgiveness ,
New Legislation ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
Small Business ,
Small Business Loans ,
Tax Deferral ,
Trump Administration
The U.S. Department of the Treasury recently issued additional guidance in the form of Frequently Asked Questions (“FAQ”) for businesses that have received or are still seeking PPP loans. The critical piece of the FAQ is the...more
5/5/2020
/ Borrowers ,
Coronavirus/COVID-19 ,
Deadlines ,
Federal Loans ,
Good Faith ,
Lenders ,
Liquidity ,
Loan Applications ,
Paycheck Protection Program (PPP) ,
SBA ,
SBA Lending Programs ,
Small Business ,
U.S. Treasury