SBA Releases New FAQ on Loan Forgiveness

Speaking of the Paycheck Protection Program, in conjunction with the Department of the Treasury, the Small Business Administration (SBA) this week released an updated Frequently Asked Questions (FAQ) guidance for businesses seeking forgiveness of their PPP loans. The FAQ provides plain language direction regarding such items as: payment requirements where a borrower submits a loan…

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SBA Finalizes Further Guidance

On Wednesday of this week, the Small Business Administration (SBA) posted its latest guidance/clarification on the Paycheck Protection Program (PPP). The guidance was provided as Question 46 in the Department of the Treasury Q&A relating the PPP.  You may recall as we advised you last week, the then-prevailing guidance stated that borrowers would have to…

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SBA Extends Safe Harbor for PPP Loan Returns

The US Department of the Treasury and the Small Business Administration (SBA) this week also issued new guidance on the question of who is actually eligible to receive a Paycheck Protection Program loan (PPP). This information is critical!  Franchisee law firm Dady & Gardner, P.A. advises that when businesses applied for a PPP loan, they…

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