On May 23, 2020, the SBA released two Interim Final Rules (“IFRs”) on loan forgiveness and its loan review procedures in order to inform borrowers and lenders of the SBA’s…
Best Practices: PPP Loans to Sole Proprietors, Independent Contractors and Self-Employed Individuals
Paycheck Protection Program (“PPP”) loans are available to sole proprietors, independent contractors and eligible self-employed individuals. In order to qualify for a PPP loan, a sole proprietor, independent contractor or…
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…