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Showing 3 posts in Small Business Administration (SBA).
New Guidance on Change of Ownership Issues for PPP Loans
Under the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, small businesses around the nation have received Paycheck Protection Program (“PPP”) loans to stay afloat during the pandemic, but the rules regarding these disbursements haven’t always been so clear. On October 2, 2020, the Small Business Administration (“SBA”) issued guidance to all SBA employees and PPP lenders to clarify the requirements around the ownership of businesses receiving PPP loans. More >
Additional Guidance Provided for PPP Loans as Policing of Funds Begins
The Payroll Protection Program (PPP), established as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, extended a lifeline to businesses during the COVID-19 pandemic by making more than $650 billion dollars in loans available along with the opportunity for full loan forgiveness if certain criteria are met. This amount of money, however, brings an increased likelihood for scrutiny from the Federal government. More >
Businesses – Loans and Tax Relief for the COVID-19 Crisis Are Available
After the passage of the CARES Act stimulus package, there are more than a few current items of relief available to businesses impacted by the crisis, outlined below. More >
