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The U.S. Small Business Administration (“SBA”), in consultation with the U.S. Department of the Treasury, has extended the safe harbor repayment date to May 18, 2020. On May 13, 2020, the SBA added FAQ # 47 to frequently asked questions by lenders and borrowers regarding the PPP (the “SBA PPP FAQs”), which provides as follows: Question: An SBA interim final rule... read more

On Friday March 27, 2020, the President signed into law, the Coronavirus Aid, Relief, and Economic Security Act (H.R. 748) or “CARES Act,” providing for, among other things, the Paycheck Protection Program (“PPP”). The U.S. Small Business Administration (“SBA”), in consultation with the U.S. Department of the Treasury, has issued additional responses to... read more

On Friday March 27, 2020, the President signed into law, the Coronavirus Aid, Relief, and Economic Security Act (H.R. 748) or “CARES Act,” providing for, among other things, the Paycheck Protection Program (“PPP”). The U.S. Small Business Administration (“SBA”), in consultation with the U.S. Department of the Treasury, has issued additional responses to... read more

On Friday March 27, 2020, the President signed into law, the Coronavirus Aid, Relief, and Economic Security Act (H.R. 748) or “CARES Act,” providing for, among other things, the Paycheck Protection Program (“PPP”). From time to time , the U.S. Small Business Administration (SBA) has issued interim final rules relating to the implementation of sections 1102 and 1106 of... read more

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