Posted on May 13, 2020 by Amy E. Ebeling
Blog
The US Department of Treasury released FAQ #46 this morning providing guidance on “how will SBA review borrowers’ required good-faith certification concerning the necessity of their loan request.” Any borrower, together with its affiliates, that received PPP loans with an original amount of less than $2 million will be deemed to have made the required […]
Posted on May 1, 2020 by Mary Ellen Schill
Blog
The Department of Treasury released updated Protection Program FAQs. These updated FAQs continue to raise more questions and concerns from PPP borrowers and provide little clarity on SBA expectations and forgiveness. Published on April 28th, FAQ #37 responds to the question “Do businesses owned by private companies with adequate sources of liquidity to support the […]
Posted on April 30, 2020 by Mary Ellen Schill
Blog
With a second round of Paycheck Protection Program (“PPP”) funding coming available last week, a large percentage of small businesses either have already received (or will soon receive) the proceeds of a PPP loan. At only one percent interest over two years, PPP loans present a great opportunity, but, obviously, businesses are most interested in […]