The Small Business Administration (“SBA”) recently released draft Paycheck Protection Program (“PPP”) necessity questionnaires for comment and review by the public. The draft questionnaire is a continuation of the SBA’s required good faith certification by borrowers that the “[c]urrent economic uncertainty makes [the PPP loan] request necessary to support the ongoing operations” of the applicant...Read More

Guidance for businesses that have received funds under the Paycheck Protection Program (“PPP”) and are now considering or undergoing a change of ownership.Read More

New Guidance: Borrowers of PPP loans greater than $2 million should anticipate review by SBA; borrowers of less than $2 million will be deemed to have made the required certification concerning the necessity of the loan request in good faith.Read More

Eligible businesses partially or fully disrupted by COVID-19, including those repaying PPP loans by the safe harbor deadline, should consider taking advantage of refundable payroll/employee retention tax credits provided for under the CARES Act.Read More

Businesses attempting to rehire employees who refuse to rejoin the workforce can exclude those employees from PPP loan forgiveness reduction calculations according to new guidance from the SBA and Treasury Department.Read More

The safe harbor deadline for businesses to repay their PPP loan in full and maintain a certification of good faith has been extended to May 14, 2020. Details...Read More

Small business applicants for PPP loans should carefully review all required certifications and determine whether the loan is necessary in light of guidance from the SBA and Treasury.Read More

$310 billion added to Paycheck Protection Program. What small businesses should do now to prepare for the reopening of the application process.Read More