Jan 22, 2021 | Firm Overview Articles, Business & Corporate Law News
Overview: The SBA issued an Interim Final Rule and Frequently Asked Questions dated January 19, 2021, to help lenders and borrowers comply with the rebooted Paycheck Protection Program (PPP). The guidance assists borrowers in calculating their reduction in revenue to...
Jan 14, 2021 | Firm Overview Articles, Business & Corporate Law News
The Small Business Administration (SBA) announced that the Paycheck Protection Program (PPP) will fully re-open to all lenders and eligible borrowers on Monday, January 18th. In order to assist smaller borrowers who may have difficulties accessing the financial...
Dec 31, 2020 | Firm Overview Articles, Business & Corporate Law News
On Sunday, December 27, 2020, the president signed into law another major COVID-19 relief bill within the omnibus federal spending legislation called the Consolidated Appropriations Act, 2021. We have summarized the stimulus portion of the bill here: December 2020...
Dec 11, 2020 | Firm Overview Articles, Business & Corporate Law News
Key Highlights: SBA requires borrowers to recognize, as income, any loan payments made on behalf of a borrower by the SBA. SBA requires lenders to complete and send the necessary IRS forms to such borrowers. As part of the CARES Act, the Small Business Administration...
Oct 9, 2020 | Firm Overview Articles, Business & Corporate Law News
The Small Business Administration (SBA) in consultation with Treasury issued new guidance for the Paycheck Protection Program (PPP) addressing a simpler loan forgiveness application for PPP loans of $50,000.00 or less. In the new interim final rule, PPP borrowers with...
