The ongoing pandemic has created unprecedented challenges for SBA lenders who are confronting a stressed 7(a) loan portfolio. In many states, we have seen court systems essentially shut down, halting…
The Paycheck Protection Program (“PPP”) was created to help small businesses impacted by the COVID-19 outbreak to be able to retain and pay their employees, and maintain their business operation. …
Starfield & Smith is proud to announce that six of its attorneys have been named to the 2020 Super Lawyers and Rising Stars Lists. The lawyers selected practice in the…
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…