Paycheck Protection Flexibility Act Passes Senate

by Jennifer Hart | Jun 3, 2020 | Finance, Government

By Jennifer Hart Borrowers who are struggling with the rigidity of the Paycheck Protection Program’s forgiveness rules will soon see changes from new legislation that just passed the US Senate after passing the House last week. The Paycheck Protection Program...

SBA Releases Guidance on Forgiveness of PPP Loans

by Jennifer Hart | May 23, 2020 | Finance, Government

By Cary Zimmerman and Demetrius Robinson Late on Friday, May 22, 2020, the Small Business Administration (SBA) issued a long-overdue interim final rule providing guidance on how forgiveness will work for Paycheck Protection Program (PPP) loans. We will publish a...

New PPP Safe Harbor for Applicants with Foreign Affiliates

by Jennifer Hart | May 19, 2020 | Finance, Government

By Cary Zimmerman & Jennifer Hart The U.S. Small Business Administration (SBA) released a new Interim Final Rule Monday creating a new safe harbor for applicants with foreign affiliates whose eligibility certifications were technically incorrect. Specifically, it...

Documenting PPP Forgiveness Applications: What to Submit and What to Save

by Jennifer Hart | May 16, 2020 | Finance, Government

By Jennifer Hart  Overview The application for forgiveness requires borrowers to submit significant documentation supporting their uses of the PPP loan funds. In addition to bank account statements and and payroll reports, borrowers will be required to save...

Treasury Updates PPP FAQs and Issues Additional Guidance

by Jennifer Hart | May 5, 2020 | Finance, Government

By Jennifer Hart & Kevin O’Connor   The U.S. Department of the Treasury updated its Paycheck Protection Program (PPP) FAQs on May 3, 2020 and issued a new Interim Final Rule on Disbursements on April 28, 2020 that may impact PPP borrowers. Here’s what all PPP...