As the calendar takes us deeper into March, the current iteration of the Small Business Administration’s Paycheck Protection Program (PPP) is closer to its scheduled March 31 expiration – but reports of its death may be exaggerated as pressure is building nationally to extend the program. With the House passing the American Rescue Act of…
Read More »If you’ve already reached out to your congressman and advocated for needed amendments to the HEALS Act, thank you. If you haven’t, then we need you to do so ASAP!! As we advised this week in an Action Alert Membership Update sent out yesterday to all members, the Health, Economic Assistance, Liability Protection and Schools…
Read More »Those who have yet to access Paycheck Protection Program loans will have to act quickly as the program will stop accepting applications on Tuesday, June 30. Administered by the Small Business Administration (SBA), PPP was funded by Congress to the aggregate amount of $610 billion, but as of this writing there is still almost $100…
Read More »In testimony before the Senate Small Business Committee this week, Treasury Secretary Steven Mnuchin signaled that the administration would be open to yet another stimulus bill to address economic issues resulting from the COVID-19 crisis and he previewed their priorities for any such legislation. Specifically, the Secretary acknowledged a rocky start for the Paycheck Protection…
Read More »In response to some of the larger well capitalized “small businesses” (such as Shake Shack, Ruths Chris and others) having received PPP loans in the first round, the Small Business Administration (SBA) yesterday updated its FAQ on the loan program to make it clear that the funds are meant for small businesses and not for…
Read More »