On April 29th, 2020, the SBA and the Department of Treasury issued additional guidance regarding the eligibility of loans to businesses which were acquired via a change in ownership transaction…
As we move through the second round of Paycheck Protection Program (“PPP”) approvals and disbursements, recent developments remind lenders and borrowers that forgiveness may not be guaranteed, and lenders have…
The Paycheck Protection Program (“PPP”) has been a challenge for many SBA lenders, both in terms of the speed with which it has necessarily been implemented as well as the…
Best Practices: Paycheck Protection Program Loan Forgiveness: What We Know, What We Need To Find Out
Now that the first wave of Paycheck Protection Program (“PPP”) loans have been approved and are being funded, Lenders’ and Borrowers’ attention have turned to Section 1106 of the CARES…
While the CARES Act, the First PPP Interim Final Rule and guidance issued by the U.S. Treasury and U.S. Small Business Administration repeatedly state that lenders may rely on representations…
On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) was passed into law. This legislation provides various forms of government aid to small businesses…