SBA rolled out a third forgiveness form, one that will all but assure full forgiveness for small businesses that borrowed up to $50,000 under the Payroll Protection Program. Form 3508S will not Read More

On Aug. 4, SBA released a set of answers to frequently-asked questions concerning the PPP forgiveness process. Now that the covered period is 24 weeks, most borrowers with ongoing operations are not Read More

Senate Republicans have announced a framework for the HEALS Act, which will include a Round 2 of the Paycheck Protection Plan. A lot of provisions will remain the same (i.e., 2.5x monthly Read More

The trend is clear: The government is making PPP loans more and more stress-free. First, SBA decided it would assume the truth of the “necessity” certification for loans under $2 million. Second, Read More

Borrowers and lenders are now preparing to process applications for forgiveness of PPP loans. In the past month, the government has taken several steps to convert PPP from a loan program to Read More

On Tuesday, the SBA limited the sum of owner compensation that may count toward forgiveness of a PPP loan; on the other hand, the agency confirmed that up to $46,154 may count Read More

The most generous business-stimulus plan in U.S. history has just become even more enticing. Following President Trump’s signature, the PPP Flexibility Act will practically ensure that a surviving business can receive full Read More

The PPP Flexibility Act is now heading to President Trump’s desk, following a unanimous vote by the Senate Wednesday evening. The legislation was previously passed by the House, by a 417-1 vote, Read More

On Thursday, the U.S. House voted 417-1 to approve sweeping changes to the Paycheck Protection Program, extending the 8-week period to 24 weeks, loosening the 75%/25% payroll expenses ratio, and lengthening the Read More

For two months, businesses have plotted their course through the PPP framework, outlined in the CARES Act. Just as the 8-week periods for some loans end next week, the forgiveness rules could Read More

Here are my main takeaways from the SBA’s forgiveness application, which was released May 15 and supplemented May 22, and then updated again June 15: Paid vs. incurred Statutory language/previous guidance: The Read More

After 3 weeks of threats, the SBA has relaxed its position on borrowers who received PPP loans of less than $2 million, providing a complete safe-harbor for the “uncertainty/necessity” certification. Borrowers with Read More

Friday afternoon, the SBA’s inspector general outlined areas of SBA’s PPP regulations that do not comport with Congress’ language in the CARES Act. In the crosshairs: the requirement that at least 75 Read More

The SBA announced Tuesday that PPP borrowers will have an additional week to decide whether to send back their loan. Before this new May 14 deadline, the SBA will release additional guidance Read More

As of 1 p.m. Friday, President Trump signed Covid 3.5 legislation, which infused $310 billion into the Paycheck Protection Program, giving small business owners a second chance to receive forgivable loans. The Read More

Written by Michael Rasor & Marcus Notaro Last month the Securities and Exchange Commission (the “SEC”) proposed a number of amendments to the existing rules governing exempt offerings. These amendments aim to simplify the current exemption Read More

Small and mid-sized companies that are affected by Covid-19, but otherwise profitable, will soon have opportunity to apply for loans via the $600 billion Main Street Business Lending Program, created under the Read More

Half the battle was getting your piece of the $349 billion package of forgivable small-business loans, known as the Paycheck Protection Program (PPP). Now that you have the funds, what’s next?   First Read More

Yao Liu, a bi-lingual and bi-cultural lawyer, trained in both the United States and China, routinely assists clients with unique issues that arise in cross-border transactions. His article, IS YOUR PRODUCT REALLY Read More

In the June 2019 post, “China’s New Foreign Investment Law and Its Implications on Foreign Investors,” we announced the publication of  Cavitch attorney, Yao Liu‘s, article in the issue of the May Read More