SBA Issues New PPP Loan Forgiveness FAQs

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The Small Business Administration (SBA) has issued Paycheck Protection Program (PPP) Loan Forgiveness FAQs. We will be reviewing this information and will post additional updates highlights related to PPP loan forgiveness procedures and/or requirements. If you need assistance, please contact Bob Grossman, Don Johnston or Mike Weber at 412-338-9300. The extended deadline for applying for […]

PPP Application Period Extended and Loan Recipient Data Released

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The application window has been extended until August 8, 2020, for loans from the Paycheck Protection Program (PPP) created under the Coronavirus Aid, Relief and Economic Security (CARES) Act. Following the original application deadline of June 30, 2020, the SBA summary report showed that nearly $132 billion in funding was still available. The President approved the extension […]

New SBA Interim Final Rule Offers Further Guidance on PPP Loan Forgiveness

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As noted in an prior post, the Small Business Administration, (SBA), in consultation with the Treasury, recently issued further guidance on the Paycheck Protection Program (PPP) created under the Coronavirus Aid, Relief and Economic Security (CARES) Act. The guidance was released in a new Interim Final Rule issued by the SBA and Treasury on June 22,2020. That […]

SBA and Treasury Issue Final PPP Guidance

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Long-awaited guidance on the Paycheck Protection Program (PPP), Revisions to Loan Forgiveness Interim Final Rule and SBA Loan Review Procedures Interim Final Rule, was issued on June 22, 2020, by the Small Business Administration (SBA) in consultation with the Department of the Treasury. The release is 34 pages in length and will require some time […]

More PPP Changes and Enhancements on the Way

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The Paycheck Protection Program (PPP) created under the Coronavirus Aid, Relief and Economic Security (CARES) Act has been exceedingly successful in making funds available to businesses (see most recent SBA report), but it also has been poorly administrated with a constant flow of “partial” guidance. The frequent updates and changes to the program’s rules have […]

SBA & Treasury Announce Forthcoming Updates to PPP Rules

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The Small Business Administration (SBA) and the U.S. Treasury issued a joint statement on June 8, 2020, announcing forthcoming updated rules and guidance  for the Paycheck Protection Program (PPP). These modifications will implement the changes legislated by the newly enacted PPP Flexibility Act. Importantly, this statement provides clarification regarding eligibility for partial loan forgiveness under […]

PPP Flexibility Act Signed Into Law

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On June 5, 2020, President Trump signed the Paycheck Protection Program Flexibility Act of 2020 (H.R. 7010) into law. The new legislation, which had bipartisan support and passed quickly through Congress, provides changes to provisions for loan forgiveness that are favorable to borrowers who received funds under the Paycheck Protection Program (PPP) created by the […]

Senate Approves Paycheck Protection Program Flexibility Act of 2020

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The bipartisan House-approved Paycheck Protection Program Flexibility Act (H.R. 7010) was passed on June 3, 2020, after Senate Majority Leader Mitch McConnell, (R-KY), pushed his colleagues to support the measure passed by the House of Representatives, overcoming the objections of certain Senators who were still placing holds on the bill as late as Wednesday afternoon. […]

Webinar – PPP Loans Part II: Understanding the Current Status of Loan Forgiveness and Other New Developments Affecting Borrowers

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Join us!  Zoom Details will be provided upon registration. Limited Spots Available! The race will soon be on for seeking forgiveness for amounts borrowed under the PPP loan program under the CARES Act. This program is intended to bring participants up to date on the latest developments on that important topic, as well as other […]