Previously we reported on the various types of loan relief available under the Coronavirus Aid, Relief, and Economic Security (CARES) Act signed into law on March 27, 2020. The Paycheck Protection Program (PPP), implemented by the Small Business Administration (SBA), with support from the Department of the Treasury, is a key program to provide
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PPP
Expeditious Crackdowns on COVID-Relief Fraud
In the span of mere days, the Department of Justice (DOJ) arrested and charged numerous individuals from Virginia, Massachusetts, Texas, and Ohio, alleging that they fraudulently sought Paycheck Protection Program (PPP) loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
At John F. Kennedy Airport, a Virginia couple was arrested on June 20…
New Law Makes Major Changes to the Paycheck Protection Program
The Paycheck Protection Program Flexibility Act of 2020, H.R. 7010 (PPPFA) recently passed by Congress and signed by the president on June 5, 2020 makes significant changes to the Paycheck Protection Program (PPP) in an effort to provide greater flexibility and benefits to borrowers. The implementation of these changes will depend in part upon further…
PPP Forgiveness Application Certification May Lead to Enforcement Headaches
I. Introduction
The Paycheck Protection Program (PPP) was enacted as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act on March 27, 2020. Unfortunately, the path to providing PPP loan relief has not been smooth. Instead, it has been paved with uncertainty. While the CARES Act laid out specific requirements for PPP…
New Paycheck Protection Program FAQs Released This Week
On April 6, 2020 the Small Business Administration, in conjunction with the Department of Treasury, issued additional set of Frequently Asked Questions (FAQs) to address questions regarding the Paycheck Protection Program (PPP). Among other things, these FAQs provide yet another “clarification” of the eligibility provisions under the SBA interim final regulation – some businesses with …