Paycheck Protection Program

The Small Business Administration (“SBA”) has issued a supplemental Interim Final Rule (the “Rule”), along with additional Frequently Asked Questions issued in consultation with the Department of Treasury (released on Friday, April 24, 2020 (as further modified on Sunday, April 26, 2020)), each providing additional guidance with respect to the implementation and administration of the

On April 23, 2020, the Small Business Administration (“SBA”), in consultation with the Department of Treasury, released supplemental guidance in the form of Frequently Asked Questions (“FAQs”) with respect to the implementation of the Paycheck Protection Program (“PPP”). These FAQs clarify certain aspects of the SBA Interim Final Rules released on April 3, 2020 and

The Small Business Administration (“SBA”) has issued a supplemental Interim Final Rule (the “Rule”) providing additional guidance with respect to eligibility criteria under the Paycheck Protection Program (“PPP”). The Rule focuses primarily on qualified self-employed individuals as well as independent contractors. Here are the key components:

Who is eligible?

  • Self-Employed individuals are eligible to receive

On March 31, 2020, the Department of Treasury released preliminary guidelines (“Guidelines”) for prospective participants in the Paycheck Protection Program (“PPP”), a cornerstone of the newly enacted CARES Act. Per the publicly released Information Sheet, small businesses and sole proprietors are eligible to apply for a PPP loan starting on Friday, April 3, 2020,