PPP Deadline Extension -
President Biden has signed legislation extending the Paycheck Protection Program (PPP) loan application filing deadline from March 31, 2021 to May 31, 2021. The legislation also gives the Small...more
4/5/2021
/ American Rescue Plan Act of 2021 ,
Coronavirus/COVID-19 ,
Eligibility ,
Filing Deadlines ,
Lenders ,
Loan Applications ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
Restaurant Industry ,
Small Business
On March 11, 2021, President Joseph Biden signed into law the American Rescue Plan Act of 2021 (ARP Act), a $1.9 trillion economic recovery package. This follows the recent adoption of the Consolidated Appropriations Act of...more
On March 3, 2021, the Small Business Administration (SBA), in conjunction with the U.S. Department of the Treasury, adopted an interim final rule (IFR) that: (1) allows individuals who file an IRS Form 1040, Schedule C to...more
3/16/2021
/ Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
Eligibility ,
Interim Final Rules (IFR) ,
Loan Applications ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Popular ,
SBA ,
Small Business ,
U.S. Treasury
On Monday, February 22, 2021, the Biden Administration announced changes to the Paycheck Protection Program (PPP) designed to assist small businesses in securing PPP loans. The PPP—which is scheduled to end on March 31,...more
On December 28, 2020, former President Trump signed the Consolidated Appropriations Act. Over 5,000 pages in length, the legislation (referred to herein as the Economic Aid Act) included revisions and additions to the...more
On December 28, 2020, former President Trump signed the Consolidated Appropriations Act. Over 5,000 pages in length, the Act included revisions and additions to the Paycheck Protection Program (PPP). The new PPP will: (1)...more
On December 28, 2020, President Trump signed the Consolidated Appropriations Act. Over 5,000 pages in length, the Act included revisions and additions to the Paycheck Protection Program (PPP). The new PPP will (1) accept...more
1/6/2021
/ Borrowers ,
CARES Act ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Federal Loans ,
Lenders ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
Small Business ,
Tax Credits
In November 2020, the Small Business Administration (SBA) issued for comment two questionnaire forms, which would need to be provided by Paycheck Protection Program (PPP) lenders to PPP borrowers who, together with their...more
The Small Business Administration (SBA) is seeking comments on two forms of questionnaires: Form 3509 (Loan Necessity Questionnaire for For-Profit Borrowers) and Form 3510 (Loan Necessity Questionnaire for Non-Profit...more
As part of the Paycheck Protection Program ("PPP") loan application, an applicant must certify, among other things, that "current economic uncertainty makes this loan request necessary to support ongoing operations of the...more
4/27/2020
/ Coronavirus/COVID-19 ,
Financial Distress ,
Liquidity ,
Loan Forgiveness ,
Midsize and Large Business Loans ,
Paycheck Protection Program (PPP) ,
Pre-Qualification ,
Relief Measures ,
SBA ,
Small Business ,
Small Business Loans