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Small Business Loans Trump Administration

Troutman Pepper Locke

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

Troutman Pepper Locke on

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

Kilpatrick

CFPB Signals Significant Changes to Small Business Lending Rule: New Section 1071 Rulemaking Forthcoming

Kilpatrick on

The Consumer Financial Protection Bureau (CFPB or Bureau) recently announced that it plans to revisit – and potentially revise – its controversial small business data collection rule implementing Section 1071 of the...more

Gould + Ratner LLP

Congress Passes $900 Billion Relief Act and Revises the PPP

Gould + Ratner LLP on

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

McDermott Will & Schulte

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

McDermott Will & Schulte on

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

Hogan Lovells

Coronavirus: The Hill and the Headlines, December 2020 # 4

Hogan Lovells on

In Washington: On Thursday, the U.S. experienced the deadliest 24 Hours since the Coronavirus pandemic began as a record 2,777 Americans died in just 24 hours. More than 14 million Americans have now tested positive,...more

Farrell Fritz, P.C.

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

Farrell Fritz, P.C. on

“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

Burr & Forman

President, Congress Extend Application Period for PPP Loans

Burr & Forman on

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

Lowndes

PPP Application Deadline Extended to August

Lowndes on

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

Hogan Lovells

Coronavirus: The Hill and the Headlines – COVID-19 D.C. Update – July 2020 #2

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In Washington: The House unanimously passed a bill to revive the $670 billion small business aid program hours after it shut down on Wednesday, extending the Paycheck Protections Program (PP) until Aug. 8. The Senate had...more

Jackson Walker

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

Jackson Walker on

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

Verrill

60% Is Not a Cliff, Indeed

Verrill on

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

Bowditch & Dewey

PPP Flexibility Act of 2020

Bowditch & Dewey on

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

Porter Hedges LLP

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

Porter Hedges LLP on

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

Haynsworth Sinkler Boyd, P.A.

PPP Flexibility Act Signed Into Law

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

Cole Schotz

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

Cole Schotz on

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

Downey Brand LLP

Senate Passes Paycheck Protection Program Flexibility Act of 2020: What Small Businesses Can Expect

Downey Brand LLP on

In the wake of COVID-19, Congress enacted the Coronvairus Aid, Relief and Economic Security (“CARES”) Act which included the Paycheck Protection Program (“PPP”) designed to help businesses fund payroll and other critical...more

Ruder Ware

Trump Signs Favorable PPP Changes Into Law

Ruder Ware on

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

Partridge Snow & Hahn LLP

Congress Passes Legislation to Provide More Flexibility for PPP Loan Recipients

The Senate has passed legislation (H.R. 7010) providing more flexibility to recipients of loans under the Paycheck Protection Program (PPP). The legislation already passed the House and now just awaits President Trump’s...more

Akin Gump Strauss Hauer & Feld LLP

COVID-19 Policy Update #21

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

Akin Gump Strauss Hauer & Feld LLP

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

- 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

Vedder Price

The Trump Administration to Seek Changes to the Community Reinvestment Act

Vedder Price on

The Community Reinvestment Act (CRA) was enacted in 1977 to prevent redlining and to encourage banks and savings associations (collectively, banks) to help meet the credit needs of all segments of their communities, including...more

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