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General Search Results:

• 09.02.2020

  Paycheck Protection Program: Allocability of Nonpayroll Costs to Your Business
  The SBA, in consultation with the Treasury, released another set of interim final rules, dated August 27, 2020 regarding forgivable costs under the Paycheck Protection Program.

• 08.06.2020

  Separate PPP Loan Forgiveness FAQs Now Released
  The Small Business Administration (in consultation with the Department of the Treasury) has issued a separate set of FAQs to deal with the forgiveness component of the Paycheck Protection Program.

• 06.24.2020

  Paycheck Protection Program: More Interim Rules Issued by SBA
  On June 22, 2020, the SBA issued another set of interim final rules to conform earlier issued rules with the Paycheck Protection Program Flexibility Act of 2020 (the “Flexibility Act”). Specifically, these rules revise the interim final rules issued on June 1, 2020 regarding loan forgiveness and the SBA’s loan review procedures.

• 06.11.2020

  Paycheck Protection Program: New Interim Final Rule
  Please note that another set of interim final rules has been released, amending the first interim rules, for the Paycheck Protection Program, to reflect modifications effected by the Paycheck Protection Program Flexibility Act of 2020 enacted on June 5, 2020.

• 05.17.2020

  Paycheck Protection Program Forgiveness Application Form Finally Released!
  The Treasury Department and the U.S. Small Business Administration (SBA) have released the Paycheck Protection Program Loan Forgiveness Application, which sheds further light into how borrowers may seek, and obtain, forgiveness of their Paycheck Protection Program loans. In addition to worksheets that calculate eligible forgiveness amounts, the loan application and its accompanying instructions clarify a few prior unknowns (mysteries).

• 05.13.2020

  SBA Finally Issues Anticipated Further Guidance on Borrower’s Good Faith for Certification of Necessity
  Minutes ago, the Treasury Department released an update of the Program FAQs for the Paycheck Protection Program, addressing Question 31, which had imposed a heightened, but uncertain, standard of need on borrowers, suggesting many may need to return funds by May 14, 2020

• 04.24.2020

  COVID-19 Payroll Protection Update: SBA Adds Liquidity Requirement to Qualify
  Announcement – The Treasury Department updated its FAQS regarding the economic uncertainty and need certification to be made by PPP applicants/borrowers, requiring that borrowers take into account their current business activity and their ability to access other sources of liquidity sufficient to support their ongoing operations.