May 5, 2021 | Firm Overview Articles, Business & Corporate Law News
The Small Business Administration (SBA) announced yesterday that the Paycheck Protection Program (PPP) funding has been exhausted. The PPP application portal has now stopped accepting applications for loans from most lenders. The SBA reserved approximately $6 billion...
Mar 26, 2021 | Firm Overview Articles, Business & Corporate Law News
Last night, the Senate approved by a bi-partisan vote a bill extending the Paycheck Protection Program. The legislation, which the House already passed, now goes to President Biden for signing. The Paycheck Protection Program Extension Act would allow loan...
Mar 3, 2021 | Firm Overview Articles, Business & Corporate Law News
The Small Business Administration (“SBA”) has issued a new Interim Final Rule that allows certain borrowers to calculate their maximum loan amounts using gross income. The SBA has also updated its forms for borrowers and lenders to account for this change. Previous...
Jan 29, 2021 | Firm Overview Articles, Business & Corporate Law News
The Small Business Administration (SBA) has encountered multiple questions pursuant to the Paycheck Protection Program (PPP). As a result, SBA issued additional guidance to assist borrowers who incurred issues while applying for Second Draw PPP Loans. The information...
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...
