Page 8 - Interim Final Rules News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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 receiving PPP loans. Then Congress passed the Consolidated Appropriations Act, 2021 (Act) (Pub. L. No. ...

« BACK March 09, 2021 PPP Round 3 Information Updated March 9, 2021 VNB is accepting... | March 11, 2021

To embed, copy and paste the code into your website or blog: On Monday, February 22, 2021, the Biden-Harris administration announced several reforms to the Paycheck Protection Program (“PPP“), including: Starting at 9 a.m. EST on Wednesday, February 24, 2021, through Tuesday, March 9, 2021 (the “ Exclusivity Period”), only eligible businesses with fewer than 20 employees can apply for relief through the PPP. During the Exclusivity Period, SBA will reject new applications for applicants with 20 or more employees unless such applications were submitted by lenders to SBA before the sta...

Struggling businesses adversely impacted by the COVID-19 pandemic now have access to a second round of Paycheck Protection Program (“PPP”) stimulus funding enacted as part of the...

To embed, copy and paste the code into your website or blog: The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (“Economic Aid Act”) was adopted on December 27, 2020, extending the availability of the original First Draw Paycheck Protection Program (“PPP”) Loans through March 31, 2021. It also created a new Second Draw PPP Loan program (“PPP2”) allowing prior PPP borrowers to seek a second loan.  The Economic Aid Act required the SBA to issue initial regulations within ten days of enactment to carry out the provisions of the Act and amendments to the PPP an...