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The Unsafe Waters of the PPP Purported FTE Reduction Safe Harbors

USA - June 17 2020 On June 17, 2020, the SBA and U.S. Treasury published an updated form of application and instructions for borrowers seeking forgiveness of their…

Stimulus Bill Changes to All PPP Loans

USA - January 4 2021 On December 27, 2020, President Trump signed the 2021 Consolidated Appropriations Act, which also contained the latest stimulus relief bill. Part of…

SBA PPP Eligibility Requirements

USA - April 16 2020 The SBA has made clear that businesses with 500 or fewer employees can apply for PPP funds, with certain exceptions. The number of employees for a…

Matt Macia

Banking Regulators Clarify TDR Relief for COVID-19 Modifications

USA - March 22 2020 On March 18, 2020, the FDIC issued guidance in its Frequently Asked Questions for Financial Institutions Affected by the Coronavirus Disease 2019…

SBA Provides Guidance on Changes of Ownership of PPP Borrowers

USA - October 4 2020 On October 2, 2020, the SBA Office of Capital Access published Procedural Notice 5000-20057, which provides a framework to address whether SBA…