News & Analysis as of August 30, 2025

Trump Administration

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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 -

SBA Orders Small Business Lenders to End Debanking Practices Pursuant to President Trump’s Executive Order

Troutman Pepper Locke on 8/29/2025

On August 26, the U.S. Small Business Administration (SBA) took action to enforce President Trump’s directive by issuing a letter to its network of over 5,000 lenders. This letter mandates the cessation of alleged politicized...more

Congress Passes $900 Billion Relief Act and Revises the PPP

Gould + Ratner LLP on 1/4/2021

After months of intense negotiations, Congress passed a new relief bill this week. Assuming President Trump signs the bill, or Congress overrides a veto, it delivers change just in time for the new year. Tucked into the...more

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

McDermott Will & Schulte on 12/28/2020

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

Year-End Gifting Of Equity In A Business — With An Outstanding PPP Loan?

Farrell Fritz, P.C. on 12/7/2020

“Annus Horribilis”- Just over three weeks to go, then 2020 will be behind you. But don’t drop your guard just yet. Three weeks is a long time – plenty of time, in fact, for one more punch to the gut, another kick in the...more

President, Congress Extend Application Period for PPP Loans

Burr & Forman on 7/8/2020

On July 4, President Trump signed into law a bill extending the period during which borrowers can apply for paycheck protection program (“PPP”) loans from June 30 to August 8. The PPP loan program is part of the governmental...more

PPP Application Deadline Extended to August

Lowndes on 7/8/2020

On Saturday, President Trump signed into law a bill providing a temporary extension of the Paycheck Protection Program, which was initially set to expire on June 30. Businesses that have not yet taken advantage of the program...more

What's Next for the Paycheck Protection Program? by Lindsey Berwick and John Wittenberg

Jackson Walker on 7/2/2020

While the deadline to apply for a Paycheck Protection Program (PPP) loan has passed, an August 8th extension is en route to President Trump for his signature. Since the program's implementation in April, the Small Business...more

60% Is Not a Cliff, Indeed

Verrill on 6/18/2020

On June 11, the Small Business Administration (SBA) and the Treasury Department published important guidance that the revised 60% condition under the Paycheck Protection Program Flexibility Act will be applied...more

PPP Flexibility Act of 2020

Bowditch & Dewey on 6/9/2020

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 ...more

Alert: "Paycheck Protection Program Flexibility Act Of 2020 Amends The CARES Act To Provide Borrowers Additional Relief"

Porter Hedges LLP on 6/9/2020

On June 5, 2020, the Paycheck Protection Program Flexibility Act of 2020 (PPPFA) became law providing additional relief to borrowers under the Paycheck Protection Program (PPP). The PPPFA amends the original Coronavirus Aid,...more

PPP Flexibility Act Signed Into Law

Haynsworth Sinkler Boyd, P.A. on 6/8/2020

On Wednesday evening, the U.S. Senate passed the Paycheck Protection Program Flexibility Act (the “Act”), which amends the CARES Act to provide businesses with greater flexibility in the use of PPP funds. President Trump...more

COVID-19 Alert: Paycheck Protection Program Flexibility Act Of 2020

Cole Schotz on 6/8/2020

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

Trump Signs Favorable PPP Changes Into Law

Ruder Ware on 6/5/2020

A few moments ago President Trump signed HR Bill 7010 into law, which we summarized for you in an alert yesterday. We also need to clarify that all of the revised and amended PPP terms apply to all existing and new PPP loans...more

COVID-19 Policy Update #21

Akin Gump Strauss Hauer & Feld LLP on 5/26/2020

Leaders of Small Business Committee Reach Consensus on Bill to Extend PPP Loan Deadline, Senate Fails to Clear Measure by Unanimous Consent as Phase 4 Negotiations Likely to Dominate June - Bipartisan leaders of the Senate...more

President Trump and Congress Move to Make Small Business Loans Available in Wake of COVID-19

Akin Gump Strauss Hauer & Feld LLP on 3/19/2020

- On March 11, President Donald Trump directed the Small Business Administration (SBA) to offer Economic Injury Disaster Loans (EIDLs) to small businesses and private non-profits impacted by COVID-19. The low-interest loans...more

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