SBA Updates PPP Forgiveness Guidance: The Good News and The Bad News
5/27/20
By: Justin Boron If you borrowed less than $2 million for all of your businesses under the Paycheck Protection Program, you can feel re-assured that you won’t be questioned by the government on whether you really needed the money. The Small Business Administration made clear that those circumstances amount to a good-faith certification of need…
Finding Shelter from the Storm: SBA Issues New Guidance on Safe Harbors for PPP Borrowers
5/20/20
By: Anastasia Osbrink The safe harbor period for businesses that received the Small Business Administration’s (“SBA”) Paycheck Protection Program (“PPP”) loans expired on May 18, 2020 after a 4-day automatic extension. That safe harbor provided that businesses that repaid loans by that date would automatically be deemed to have satisfied the “good faith” requirement of…