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Small Business Administration › Paycheck Protection Program (PPP) › Corporate Counsel

The Small Business Administration is a United States federal agency established in 1953 by the Small Business Act. The SBA is dedicated to assisting and supporting small business and entreprenuers. The SBA... more +
The Small Business Administration is a United States federal agency established in 1953 by the Small Business Act. The SBA is dedicated to assisting and supporting small business and entreprenuers. The SBA carries out its mission through a variety of programs including providing financial and federal contract procurement assistance, management assistance, and specialized outreach to women, minorities and armed forces veterans. less -
Husch Blackwell LLP

Mid-Year Update: PPP Investigations Continue as DOJ Enforcement Priority

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As we enter the second half of 2025—over five years now since the COVID-19 pandemic began—federal government scrutiny relating to Paycheck Protection Program (PPP) loans received in the early days of the pandemic is still...more

Dorsey & Whitney LLP

More DOJ Double-Dipping PPP Fraud News

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The Department of Justice (“DOJ”) continues rolling out new settlement agreements related to COVID-19 fraud - highlighting the government’s and a common relator’s efforts to crack down on those alleged to have improperly...more

Morrison & Foerster LLP

PPP Loans: Overview of Prior Guidance

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The Paycheck Protection Program (“PPP”) began with rushed legislation and a race for financial support in the middle of a pandemic. This race was hardly a straight line as the Small Business Administration (“SBA”) and the...more

Snell & Wilmer

SBA Adopts New Process for Absolving Fraudulent Loans in Attempt to Provide Certainty to Affected Businesses

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The Paycheck Protection Program (“PPP”) was created on March 27, 2020 as part of the first COVID-19 relief package. Over the past year, Congress appropriated almost $700 billion to the PPP in an effort to provide forgivable...more

Pietragallo Gordon Alfano Bosick & Raspanti,...

PPP Forgiveness: 7 Commonly Asked Questions and Answers

Pietragallo Gordon Alfano Bosick & Raspanti,... on

The Paycheck Protection Program (PPP) provided much needed assistance to small businesses affected by COVID-19. While the PPP is a small business loan program within Section 7(a) of the Small Business Act, PPP loans are...more

BakerHostetler

Important Lessons from the DOJ's First Civil Action for CARES Act Loan Fraud

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On January 12, 2021, the Department of Justice (the “DOJ”) settled its first civil action for alleged fraud against the Paycheck Protection Program (the “PPP”) – the primary lending program under the Coronavirus Aid, Relief,...more

Pillsbury Winthrop Shaw Pittman LLP

COVID-19 Relief: Loan Forgiveness Requirements and Loan Review Procedures for Renewed Paycheck Protection Program

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On January 19, 2021, the Small Business Administration (SBA) issued a new interim final rule on loan forgiveness and loan review procedures for the Paycheck Protection Program (PPP), as reinitiated by the Economic Aid to...more

Miller Canfield

Congress Permits SBA to Make PPP Loans to Debtors in Bankruptcy, SBA Says "No"

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In June and December of 2020, Miller Canfield reported that the Fifth and Eleventh Circuits had held that the Small Business Administration ("SBA") may exclude debtors in bankruptcy from consideration for Paycheck Protection...more

Bond Schoeneck & King PLLC

Reopening of All First and Second Draw PPP Loan Applications Starts Tuesday, Jan. 19, 2021

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The U.S. Department of Treasury and the Small Business Association (SBA) announced that it will reopen the Paycheck Protection Program (PPP) loan portal to all participating PPP lenders to submit First and Second Draw loan...more

King & Spalding

PPP Round Three: Second Draws and Second Chances

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On December 27, 2020, Congress passed the Economic Aid Act, another COVID-19 relief bill with changes to the Paycheck Protection Program (“PPP”) and the opportunity for many PPP loan recipients to apply for a second loan,...more

McCarter & English, LLP

Paycheck Protection Program 2.0: What Small Businesses Need To Know

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The Consolidated Appropriations Act, comprised of more than 5,500 pages and including a $900 billion stimulus package, became law on December 27, 2020. As part of this law, the Economic Aid to Hard-Hit Small Businesses,...more

Bond Schoeneck & King PLLC

Eligibility, Payroll Cost Calculation and Documentation Requirements for First and Second Draw of PPP Loan Applications 

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On Jan. 6, 2021, the Small Business Administration (SBA) issued guidance regarding the stimulus package’s Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (previously reported here), which continued the...more

Goodwin

U.S. Paycheck Protection Program Restarts: Summary Of Key Updates

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On December 27, 2020, the President signed into law the “Consolidated Appropriations Act, 2021” (H.R. 133) (or the “2021 CAA”), which modifies and reopens the U.S. Small Business Administration’s Paycheck Protection Program...more

McDermott Will & Schulte

COVID Relief Bill: Key PPP Eligibility Issues Loom Large for New and Second Draw Loans

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The COVID-19 relief bill opens the door to new aid for small businesses under the Paycheck Protection Program (PPP). This is welcome news to small businesses throughout the country, but—as detailed below—there are significant...more

BakerHostetler

SBA and Treasury Department to Increase Scrutiny of PPP Loans

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The Treasury Department and the Small Business Administration (SBA) updated the Paycheck Protection Program (PPP) frequently asked questions on Dec. 9, 2020, indicating PPP borrowers that obtained a PPP loan of $2 million or...more

Partridge Snow & Hahn LLP

SBA Provides New Guidance on Loan Necessity Questionnaires for PPP Loan Recipients: Prepare Now or Risk Being Denied Forgiveness

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On December 9, 2020, the Small Business Administration (the “SBA”) released Paycheck Protection Program (“PPP”) Loans FAQ #53, which provides additional information regarding the Loan Necessity Questionnaires (SBA Forms 3509...more

Fisher Phillips

November 2020: The Top 16 Labor And Employment Law Stories

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It’s hard to keep up with all the recent changes to labor and employment law. While the law always seems to evolve at a rapid pace, there have been an unprecedented number of changes for the past few years—and this past month...more

Fox Rothschild LLP

IRS Confirms Non-Deductibility Of Expenses Related To PPP Loans

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Businesses that reasonably anticipate that loans under the Paycheck Protection Program will be forgiven should be aware that they cannot claim a deduction for the eligible expenses paid or incurred during the 2020 taxable...more

McCarter & English, LLP

Act Now Or Be Exiled From Main Street

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The window for the Main Street Loan Program (“Main Street Program”), designed to provide loans with favorable terms to midsize companies to help address the economic fallout caused by the pandemic, is closing on December 31,...more

Fisher Phillips

New SBA Questionnaire Raises Stakes For Businesses That Borrowed Over $2 Million In PPP Loans

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The Small Business Administration (SBA) has released loan necessity questionnaires that lenders must issue to over 50,000 borrowers that received $2 million or more in funds from the Paycheck Protection Program (PPP) – and...more

McDermott Will & Schulte

PPP Update: SBA Issues Loan Necessity Questionnaires with 10-Day Turnaround

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The Small Business Administration (SBA) has released two loan necessity questionnaire forms (Form 3509 for for-profit borrowers and Form 3510 for nonprofits) for lenders to transmit to certain Paycheck Protection Program...more

Nossaman LLP

PPP Loans and Changes of Ownership: Considerations for M&A Transactions

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The Small Business Administration (“SBA”) has issued long-awaited rules governing lender and borrower obligations when there is a change in ownership of an entity that has received a Paycheck Protection Program (“PPP”) loan....more

Foley Hoag LLP

SBA Announces Simpler PPP Forgiveness for Loans Less Than $50k

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The U.S. Small Business Administration (SBA) has announced that it is rolling out a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. The SBA claims the new, more streamlined...more

Moritt Hock & Hamroff LLP

Alert: Multiple Updates to the Paycheck Protection Program

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On March 27, 2020, the President signed the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) into law providing, among other relief, up to $349 billion to fund loans to small businesses affected by the...more

Husch Blackwell LLP

SBA Issues Guidance For Ownership Changes Under PPP

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Businesses contemplating mergers and/or acquisitions (M&A) during this worldwide pandemic have wrestled with the question of how to treat a target company that reveals an outstanding Paycheck Protection Program (PPP) loan on...more

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