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PPP Loan Forgiveness - SBA Provides PPP Borrowers of less than $50,000 with Simple, One Page Forgiveness Application and Exemption from Forgiveness Reductions based on FTE and Salary/Wage Reductions

USA - October 27 2020 On October 8, 2020, the United States Small Business Administration (“SBA”) published a one page application for borrowers seeking forgiveness under…

Jonathan M. Boulahanis, W. Kent Carter, Craig S. Heryford.

SBA Issues Rule Setting Forth Procedure to Appeal Denial of a PPP Loan Forgiveness Application

USA - September 9 2020 On August 25, 2020, the United States Small Business Administration (“SBA”) issued a new interim final rule to establish procedure for appealing a…

Jonathan M. Boulahanis, W. Kent Carter, Craig S. Heryford.

SBA Issues Procedural Notice Setting Forth Lender Procedures for Submission of Loan Forgiveness Applications

USA - September 9 2020 On July 23, 2020, the United States Small Business Administration (“SBA”) issued a Procedural Notice to inform lenders of the process for submitting…

Jonathan M. Boulahanis, W. Kent Carter, Craig S. Heryford.

PPP Loan Forgiveness - SBA Updates FAQs to Clarify Forgiveness Rules

USA - August 19 2020 On August 11, 2020, the United States Small Business Administration (“SBA”) updated its Frequently Asked Questions regarding forgiveness of loans…

Jonathan M. Boulahanis, W. Kent Carter, Craig S. Heryford.

Fed Expands Main Street Lending Program to Expand Eligibility and Encourage Borrowing and Lending

USA - June 11 2020 On June 8, 2020, the Federal Reserve Board (“Fed”) expanded its $600 billion Main Street Business Lending (“MSBL” or “Main Street”) program…

Jonathan M. Boulahanis, W. Kent Carter, Craig S. Heryford.