Jan 7, 2021 | Firm Overview Articles, Business & Corporate Law News, Nonprofit & Charitable Organizations Law News
Title III of Division N of the Consolidated Appropriations Act, 2021 appropriates $15 billion in grants for “Shuttered Venue Operators.” The Small Business Administration (SBA) is tasked with providing grants (Hard Hit Grants) under the Economic Aid to Hard-Hit Small...
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...
Dec 2, 2020 | Firm Overview Articles, Business & Corporate Law News
The Small Business Association (SBA) has released the specific loan information of Borrowers under the Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL). This release arises from a federal court ruling in early November. The SBA released...
Oct 29, 2020 | Firm Overview Articles, Business & Corporate Law News
The Small Business Administration (SBA) has begun issuing loan necessity questionnaires to Paycheck Protection Program (PPP) borrowers with PPP loans of over $2 million. The loan necessity questionnaire will be utilized by SBA in its review of the PPP borrower’s...
