Category

Banking & Commercial

House Passes PPP Flexibility Act

On Thursday, May 28, 2020, the House of Representatives passed the Paycheck Protection Program Flexibility Act which allows more flexibility for small businesses that received a PPP loan. Under the...

SBA Publishes Additional Guidelines for PPP Loan Forgiveness

The SBA has published additional guidance regarding PPP loan forgiveness. The guidance attempts to answer continued questions from small businesses about the process of applying for loan forgiveness and how...

Main Street Lending Program: An Alternative Funding Source*

Small business owners anxiously refreshed their email inboxes hoping for some word from the U.S. Small Business Association (“SBA”) on their fate under the Paycheck Protection Program (“PPP”). To the...

Steps Unsecured Creditors Can Take When Customer’s Face Bankruptcy

Many small businesses will struggle to survive the financial challenges brought on by the novel coronavirus.  Historically, Chapter 11 of the Bankruptcy Code was an option that was more attractive...

New Guidance For PPP Loans, Good Faith Standard

On April 23, 2020, the SBA published a guideline in their list of Frequently Asked Questions addressing businesses that received a PPP loan but that also have sources of funding...

Deadline to Return PPP Loan Extended to May 14, 2020

The Small Business Administration has once again updated their guidelines regarding the good faith certification made by businesses that received a PPP loan. On April 23, 2020, the SBA added...

Other Funding May Affect PPP Loan Forgiveness

Recent guidelines published by the SBA have prompted a lot of questions among small businesses who received a PPP loan under the CARES Act. Many questions are largely concerning the...

President Signs New Coronavirus Deal

As expected, President Trump approved the second round of funding under the CARES Act on Friday, April 24, 2020, which is set to become active on April 27 at 10:30...

Senate Passes New Coronavirus Deal

Five days after funding for small businesses under the CARES Act was depleted, the Senate approved a new stimulus package with funds totaling almost $500 billion. The new package delegates...

Paycheck Protection Program Runs Out of Money

The $350 billion Paycheck Protection Program (PPP), created as part of the CARES Act to assist small businesses affected by the COVID-19 pandemic, has been fully committed. A total of...
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