News & Insights

After a hiatus of over a month, on August 4, 2020, the Small Business Administration (the “SBA”) issued a new set of Frequently Asked Questions (the “New FAQs”).  Unlike its previous FAQs (the last of which were issued on June 25th), which were a compendium in no particular order of…

On July 3, 2020, the President signed legislation extending the application deadline for small businesses to apply for the Paycheck Protection Program (“PPP”). The original deadline to apply for a PPP loan was June 30, 2020. Both houses of Congress unanimously passed the “PPP Extension Act” last week, and with…

The Small Business Administration (the “SBA”) continues to issue additional guidance for borrowers and lenders under the Payroll Protection Program (“PPP”) Flexibility Act of 2020 (the “PPP Flexibility Act”).  This week, three additional Interim Final Rules and additional Frequently Asked Questions (“FAQs”) were published. The first Interim Final Rule (the…

The Small Business Administration (the “SBA”) last week issued a new Interim Final Rule on PPP loan forgiveness (the “Update Forgiveness IFR”) and provided two new Loan Forgiveness Applications.  For the most part, these new publications implement the changes made by the PPP Flexibility Act (see Trenam Alerts: "What Will…