SBA Announces Application Dates for Second Round of PPP Loans
The SBA will open the application window for PPP loans from all lenders starting at 9 a.m. EST on Tuesday, January 19th. All borrowers seeking either a first or second-draw PPP loan are will be eligible to apply at that time.
Small lenders with under $1 billion in assets will be
New Paycheck Protection Program Guidance Released
On Wednesday, January 6, the U.S. Small Business Administration (SBA) and the Treasury issued joint guidance regarding the latest updates to the Paycheck Protection Program (PPP), as amended by the recent COVID-19 relief bill. A recent article from the Journal of Accountancy offers an overview of the guidance,
Important Changes to PPP Loans and COVID-Relief Grants
On December 21, 2020, Congress passed the “Consolidated Appropriations Act, 2021” (the “Act”) and it was signed by President Trump on Sunday, December 27th. This Act contains many important tax changes and updates for the Paycheck Protection Program (“PPP”) loans (see our article here for more details on
President Signs Coronavirus Relief Bill
On December 22, 2020, Congress passed the Consolidated Appropriations Act, 2021 (CAA2021), which includes $892 billion in coronavirus stimulus spending. The act was signed into law by President Trump on Sunday, December 27, 2020. This long-awaited and highly contested piece of legislation ties coronavirus relief funding into a
SBA and Treasury Release New PPP Waiver
On October 8, the U.S. Small Business Administration (SBA) and the Treasury announced the release of a simplified forgiveness process for Paycheck Protection Program (PPP) participants that received loans of $50,000 or less.
SBA Clarifies Due Date of PPP Forgiveness Applications
On October 13, the U.S. Small Business Administration (SBA) released clarifying guidance regarding the due date of forgiveness applications for loans issued via the Paycheck Protection Program (PPP).
SBA Releases Updates On PPP Forgiveness
This week, the Small Business Administration (SBA) and the U.S. Department of the Treasury released new information for recipients of loans through the Paycheck Protection Program (PPP).
Federal Reserve Announces Start of Main Street Lending Program
In a press release published June 15, 2020, The Federal Reserve Bank of Boston announced the opening of the much-anticipated $600 billion Main Street Lending Program ("MSLP").
PA to provide $225 Million in Grants to Small Businesses Impacted by COVID-19
Governor Tom Wolf announced earlier this week a $225 million statewide grant program to assist small businesses that experienced losses as a result of the mandatory business closures due to the coronavirus pandemic.
Federal Reserve Makes Terms More Favorable for Main Street Lending Program
With the Main Street Lending Program (MSLP) expected to start within days, the Federal Reserve announced important changes aimed at making the loan terms even more favorable to borrowers.
