News & Analysis as of

Loan Forgiveness Coronavirus/COVID-19 Loans

Bradley Arant Boult Cummings LLP

PPP Loan Credits and Government Contracts: What Contractors Need to Know During Incurred Cost Reviews

As federal contractors continue to navigate the post-pandemic compliance landscape, a recurring issue has emerged in government audits and incurred cost reviews: whether and how contractors must credit the government for...more

Bradley Arant Boult Cummings LLP

Interplay of the Cares Act's Forbearance Framework and Regulation X's Loss Mitigation Rules

On March 13, 2020, President Donald Trump declared a national emergency in response to the novel coronavirus disease (COVID-19). Shortly thereafter, to assist consumers impacted by the COVID-19 pandemic, Congress passed the...more

Schwabe, Williamson & Wyatt PC

10 Things to Know about Second Draw PPP Loans as Updated for the Economic Aid Act and the ARP Act - Update #5

On January 6, 2021, the Small Business Administration (the “SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans” (“Second...more

Morrison & Foerster LLP

DOJ Enforcement Actions Involving COVID-19 Relief Fraud: An Update

Soon after Congress passed the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) in March 2020, the Criminal Division of the U.S. Department of Justice (DOJ) moved quickly to address potential COVID-19 related...more

Davis Wright Tremaine LLP

Second Draw PPP Loans: How to Qualify and What to Prove

Even with widespread distribution of a COVID-19 vaccine on the horizon, the pandemic is still not over and neither is the financial strain many businesses are feeling due to sustained lock-down orders. To aid these struggling...more

Morrison & Foerster LLP

M&A In 2020 And Trends For 2021

2020 brought the COVID-19 pandemic and other headline-grabbing challenges, along with “the usual” quadrennial questions around the U.S. election. Early in the year, businesses and dealmakers focused on the pandemic and...more

Snell & Wilmer

New COVID-19 Relief Bill Adds PPP ‘Second Draw’ Loans and Modifications to Original PPP

Snell & Wilmer on

On December 27, the Consolidated Appropriations Act of 2021 (the “Act”) was signed into law. This Act makes available $284 billion for second draw loans under the Paycheck Protection Program (“PPP-2”) and also makes important...more

Buckingham, Doolittle & Burroughs, LLC

Get ready for Paycheck Protection Program Round 2: PPP Loans return in newest COVID-19 relief bill with added tax benefits and...

On December 21st, Congress passed a new COVID-19 relief bill titled the Consolidated Appropriations Act that provides for a variety of financial stimulus measures, including $325B in aid for small businesses, $166B in...more

Bracewell LLP

PPP 2.0: Expanded Lending For New and Existing Borrowers

Bracewell LLP on

After months of stalled negotiations, Congress has passed sweeping new COVID-19 relief legislation that, among other things, revitalizes and revises the Paycheck Protection Program. The new legislation reopens the program to...more

K&L Gates LLP

2021: A New Year, the Same Fear - Why Companies Should Expect a Wave of PPP Investigations

K&L Gates LLP on

Four months after the expiration of the $659 billion forgivable loan relief program established by the CARES Act, the federal government has disbursed approximately 5.2 million Paycheck Protection Program (PPP) loans....more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights: Issue 8, October 2020

Servicemembers’ Civil Relief Act - What You Need to Know - Between the Civil War and 1940, the United States periodically had legislation that prevented lawsuits against soldiers and sailors during times of conflict. Then,...more

BakerHostetler

M&A Considerations for Buyers of Targets with PPP Loans

BakerHostetler on

While the Paycheck Protection Program (PPP), created under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, has provided much-needed relief to small businesses in response to the COVID-19 pandemic in recent...more

Arnall Golden Gregory LLP

PPP Update: SBA’s Loan Forgiveness Portal May be Coming Online, but Uncertainty Continues

Through the Paycheck Protection Program (“PPP”), which was authorized by the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), banks certified as 7(a) lenders by the U.S. Small Business Administration (“SBA”)...more

White and Williams LLP

Making It Up As We Go Along?: Real-Time Changes to Paycheck Protection Program Continue with Release of Additional Rules

The U.S. Small Business Administration (SBA) continues to fine-tune the terms of the Paycheck Protection Program (PPP) with the release of a fifth interim final rule on disbursements on April 28th (the Fifth Rule) and a sixth...more

Lowenstein Sandler LLP

Paycheck Protection Program (PPP) Information Sheet: Nonprofit Borrowers

The following information has been adapted from the Small Business Administration’s (SBA) Paycheck Protection Program Borrower Information Fact Sheet to provide information tailored for nonprofits. What is the Paycheck...more

Partridge Snow & Hahn LLP

How Nonprofits Can Benefit From The CARES Act - Summary of Provisions

On March 27, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act"). The CARES Act benefits nonprofit organizations. The below summary contains highlights of several applicable...more

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