Page 5 - Second Draw News Today

To print this article, all you need is to be registered or login on Mondaq.com. The Small Business Administration (SBA) has announced that the long awaited Shuttered Venue Operators Grant (SVOG) Application Portal will open and begin accepting applications for eligible applicants starting April 8, 2021. Applicants can find the SVOG Application Portal here, the SVOG Application Checklist here, and the draft SVOG Application here, which is subject to change. To further ass...

To embed, copy and paste the code into your website or blog: Help is on the way for restaurant owners who were hit hard by the COVID-19 pandemic. On March 11, 2021, President Joe Biden signed the American Rescue Plan Act of 2021  (the “Act’), a $1.9 trillion bill aimed at boosting the American economy during the COVID-19 pandemic. The Act created a $28.6 billion Restaurant Revitalization Fund (RRF). Unlike the Paycheck Protection Program (PPP) loans, the RRF will be administer directly by ...

A.  Congress 1. Republican leaders urged their House Democrat counterparts to hold a joint hearing regarding the undercounting of COVID-19 deaths in New York nursing homes. The letter was signed by Energy and Commerce Ranking Member Cathy McMorris Rodgers (R-WA), Energy and Commerce Health Subcommittee Ranking Member Brett Guthrie (R-KY), Republican Whip and Select Subcommittee on the Coronavirus Crisis Ranking Member Steve Scalise (R-LA), Ways and Means Ranking Member Kevin Brady (R-TX), W...

Mon, 03/15/2021 - 12:23pm -- tim Vermont Business Magazine The US Small Business Administration announced extended deferment periods for all disaster loans, including the COVID-19 Economic Injury Disaster Loan (EIDL) program, until 2022. This includes Vermont. •    All SBA disaster loans made in calendar year 2020, including COVID-19 EIDL, will have a first payment due date extended from 12-months to 24-months from the date of the note. •    All SBA disaster loans made in calendar ye...

To print this article, all you need is to be registered or login on Mondaq.com. After the Paycheck Protection Program (the "PPP") was established in The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), enacted on March 27, 2020, debtors in bankruptcy cases applied for PPP loans. The Small Business Administration (the "SBA”) opposed PPP loans for debtors, and courts were split as to whether the SBA could block debtors from qualifying for and rec...

To print this article, all you need is to be registered or login on Mondaq.com. Borrowers seeking to apply for First Draw Paycheck Protection Program (PPP) loans or Second Draw (PPP2) loans are required to certify on loan applications that "current economic uncertainty makes this loan request necessary to support the ongoing operations" of the borrower or applicant.  That "necessity certification" as it has come to be known, is riddled with amorphous language that has p...

PPP Workshop For VT Cosmetologists, Tattoo Artists & Body Piercers Are you a sole proprietor, independent contractor, or self-employed? Have you applied for an SBA Paycheck Protection Program (PPP) forgivable loan? Learn more about the SBA’s new formula for Schedule C filers to receive more financial support. But the March 31st approval deadline is quickly approaching! Vermont personal care providers, please join the SBA Vermont District Office on Friday, March 19th at 9:00am for a FREE webi...

To print this article, all you need is to be registered or login on Mondaq.com. Soon after Congress passed the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") in March 2020, the Criminal Division of the U.S. Department of Justice (DOJ) moved quickly to address potential COVID-19 related fraud. One area of early focus was the Paycheck Protection Program (PPP), a program under the CARES Act that provides loans to small businesses to help pay employees. The...

To embed, copy and paste the code into your website or blog: Soon after Congress passed the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) in March 2020, the Criminal Division of the U.S. Department of Justice (DOJ) moved quickly to address potential COVID-19 related fraud. One area of early focus was the Paycheck Protection Program (PPP), a program under the CARES Act that provides loans to small businesses to help pay employees. The Fraud Section set up a team devoted to...

In a March 3, 2021 Interim Final Rule (“IFR”), the U.S. Small Business Association (“SBA”) recognized that the definition of “payroll costs” used to determine Paycheck Protection...