News & Analysis as of

Small Business Loan Applications Lenders

Morris, Manning & Martin, LLP

What SBA Borrowers Need to Know: Lender Expectations for Corporate and Purchase Documentation

Every loan application requires borrowers to provide a substantial amount of information about the business and its owners. When applying for a loan that is guaranteed by the U.S. Small Business Administration (SBA), you can...more

Hinshaw & Culbertson LLP

PPP Deadline Extended, Preparing for Restaurant Revitalization Grants

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

Gould + Ratner LLP

American Rescue Plan Act Expands PPP’s Reach

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Eligible borrower application deadline is March 31, 2021 - The voluminous, $1.9 trillion American Rescue Plan Act (ARPA) signed into law earlier this month, provides a couple of key modifications to the Paycheck...more

Jackson Walker

Applying for PPP Loan Before March 31st Deadline

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Time is of the essence for businesses to apply for relief from the Paycheck Protection Program. Jackson Walker finance partners Lindsey Berwick and John Wittenberg join hosts Art Cavazos and Daniel Maldonado to discuss the...more

McGlinchey Stafford

[Webinar] Updates to the Paycheck Protection Program & Other Issues - March 18th, 2:00 pm ET

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Join us on Thursday, March 18 for the second installment in our 3-Part webinar series on the Paycheck Protection Program and formulate your game-plan before you apply for forgiveness. McGlinchey attorneys Richard Aguilar,...more

Bowditch & Dewey

New PPP Funding Hits the Streets – A Primer on What Businesses Should Know

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Struggling businesses adversely impacted by the COVID-19 pandemic now have access to a second round of Paycheck Protection Program (“PPP”) stimulus funding enacted as part of the Economic Aid to Hard Hit Small Businesses,...more

K&L Gates LLP

HUB Talks: Voluntary Disclosure: Deep Dive - They Know What You Did Last Summer—Phase 1 of the U.S. Government's Response to the...

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In this first episode of our series on the government's response to the Paycheck Protection Program, white collar practitioners Chris Nasson, David Rybicki, Neil Smith, and Hayley Trahan-Liptak provide an overview of the...more

McGlinchey Stafford

[Webinar] What to know about PPP loan forgiveness - February 18th, 1:00 pm CT

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You certified your eligibility for the PPP (Paycheck Protection Program), calculated the amount of your loan, and submitted your application. Your loan was approved and funded, and you used the loan proceeds for allowable...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

Schwabe, Williamson & Wyatt PC

Why You May Want to Wait to File for PPP Loan Forgiveness and Other Tips - Update #6

Most Paycheck Protection Program (“PPP”) borrowers are working toward full forgiveness of their PPP loans and are anxious to get this process started. A borrower generally may submit a loan forgiveness application any time on...more

Burr & Forman

SBA Requires Borrowers Who Received PPP Loans of $2 Million or More to Submit “Pre-Audit Review” Information

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On October 31, 2020, the SBA released new forms and related instructions requiring borrowers with PPP loans of $2 million or more to provide additional information related to their PPP loans. Titled “Loan Necessity...more

Williams Mullen

Williams Mullen's COVID-19 Comeback Plan: Preparing Today for Tomorrow's PPP Audit

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Part of the 2020 Business Solutions Series presented by by the Hampton Roads Alliance and Williams Mullen Charles E. “Chuck” James, Jr., co-chair of both the Firearms Industry Group and the White Collar & Investigations...more

McDermott Will & Emery

[Webinar] Navigating PPP Loan Forgiveness (Part 2) - August 20th, 3:00 pm - 4:00 pm EDT

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Join McDermott and BDO on Thursday, August 20 to hear about the latest updates concerning the Paycheck Protection Program (PPP). Our multi-disciplinary panel will cover the most pressing issues as of August 2020, including: ...more

Hahn Loeser & Parks LLP

Deadline To Apply For PPP Loans Extended To August 8; Borrowers Must Carefully Track Use Of Loan Proceeds

Eligible businesses will have an additional five weeks to apply for Paycheck Protection Program (“PPP”) loans, after President Trump signed a bill on July 4, 2020, extending the application deadline to August 8, 2020. The...more

Womble Bond Dickinson

PPP News: Loan Application Deadline is June 30, New Forgiveness Documents, & Other Updates

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PPP Loan Applications Due by June 30, 2020 - As discussed in our June 4, 2020, Client Alert on the Paycheck Protection Program Flexibility Act of 2020 (PPPFA), the PPPFA amended several key provisions of the Paycheck...more

Goodwin

Financial Services Weekly Roundup: Treasury And SBA Codify Changes To PPP Flexibility Act

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In This Issue. The U.S. Department of the Treasury (Treasury) and the Small Business Administration (SBA) released an interim final rule to reflect changes made by H.R. 7010, the Paycheck Protection Program Flexibility Act,...more

Lowenstein Sandler LLP

Paycheck Protection Program (PPP) Information Sheet: Nonprofit Borrowers

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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. This document is for...more

Bowditch & Dewey

PPP Loan Applicants Directed to Assess (or Reassess) the Necessity for Loan Funds; SBA Imposes May 7th Deadline to Return Loans...

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The U.S. Department of the Treasury recently issued additional guidance in the form of Frequently Asked Questions (“FAQ”) for businesses that have received or are still seeking PPP loans. The critical piece of the FAQ is the...more

Goodwin

Trends in U.S. Paycheck Protection Program Class Actions

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Early uncertainty and the initial lapse in appropriations for the U.S. CARES Act’s Paycheck Protection Program (PPP) set off a wave of litigation by disgruntled small businesses who have been unable to secure PPP loans. PPP...more

Goodwin

U.S. SBA Provides Important New Guidance And Announces “Amnesty” Program For PPP Loan Applicants

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On April 23, 2020, the U.S. Small Business Administration (“SBA”) issued additional guidance in the form of “Frequently Asked Questions” that could have significant ramifications for companies that have applied, or are...more

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