Business & Finance COVID-19 Updates (2020)

May-October 2020

• PPP Loan Forgiveness – SBA Provides PPP Borrowers of less than $50,000 with Simple, One Page Forgiveness Application and Exemption from Forgiveness Reductions based on FTE and Salary/Wage Reductions (October 27, 2020)
   
• SBA Provides Guidance on Change of Ownership Transactions for Borrowers with PPP Loans (October 8, 2020)
   
• SBA Issues Rule Setting Forth Procedure to Appeal Denial of a PPP Loan Forgiveness Application (September 9, 2020)
   
• SBA Issues Procedural Notice Setting Forth Lender Procedures for Submission of Loan Forgiveness Applications (September 9, 2020)
   
• PPP Loan Forgiveness – SBA Updates FAQs to Clarify Forgiveness Rules (August 19, 2020)
   
• Fed Expands Main Street Lending Program to Expand Eligibility and Encourage Borrowing and Lending (June 12, 2020)
   
• Paycheck Protection Program Flexibility Act Passes House and Senate (June 3, 2020)
   
• PPP Loan Forgiveness – SBA Publishes Forgiveness Application; Clarifies Certain Forgiveness Requirements (May 20, 2020)
   
• PPP Loan Certification – SBA Deems Borrowers of Loans under $2 Million made Certification in Good Faith; Extended Deadline for Borrowers with Certification Concerns to Return Funds; SBA Certification Reviews for Borrowers of Loans over $2 Million (May 14, 2020)
   
• Terms And Additional Details for Main Street Lending Program (May 12, 2020)
   
• PPP Loan Guidance on Employees Refusing Reinstatement (May 11, 2020)
   
• PPP Good-Faith Certification of Economic Need and Eligibility Audits (May 11, 2020)
   
• Information for Borrowers and Lenders with Existing SBA 7(a) and 504 Loans Outside of the CARES Act (April 28, 2020)
   
• Expected Additional Funding of PPP and EIDL Programs, Impact on Businesses and Lenders (April 22, 2020)
   
• Employer Payroll Tax Deferral and Modifications for Net Operating Losses - CARES Act (April 15, 2020)
   
• Main Street Business Lending Program Established for Mid-Sized Businesses (April 10, 2020)
   
• Reflections on Day 1 of the Paycheck Protection Loan Program and the Final Affiliation Rules (April 6, 2020)
   
• Determining Loan Availability and Forgiveness Under the Paycheck Protection Program (April 2, 2020)
   
• SBA Form Application for Paycheck Protection Program Loans under the CARES Act, Applications Accepted Beginning Friday, April 3 (March 31, 2020)
   
• Economic Injury Disaster Loans – Answers to Frequently Asked Questions (March 30, 2020)
   
• Employee Retention Tax Credit - CARES Act (March 27, 2020)
   
• CARES Act Implications for Businesses and Lenders (March 27, 2020)