Last week, the SBA released a procedural notice with information regarding the sale (or change of ownership) of small businesses with PPP loans. This may complicate sales of such small businesses. The borrowers must notify their PPP lenders of any
The August 8, 2020 deadline to apply for a Paycheck Protection Program (PPP) loan has passed and loan applications are no longer being accepted. However, the Small Business Administration (SBA) has now opened an electronic portal for processing loan forgiveness
On July 3rd, President Trump signed the PPP Extension Act. The new extension allows for application of PPP loans until August 8th, 2020. As the initial PPP program was set to expire, more than $130 billion of funds were still
The Small Business Administration (SBA) today released a revised PPP loan forgiveness application as part of its implementation of changes made by the PPP Flexibility Act. The SBA has also released a new EZ version of the forgiveness application that
The latest update, in the form of new FAQs, was published by the SBA and Department of Treasury on May 5, 2020. Click here to access the FAQs page. Question 31 provides needed clarification for businesses regarding qualification for necessity
On April 24, 2020, President Trump signed the $484 billion stimulus bill known as the Paycheck Protection Program (PPP) Enhancement Act to add more money for small business funding. With $310 billion more to go to PPP loans, $60 billion
COVID-19 Impacting Your Business? The SBA has announced that small business and sole proprietorships can apply for loans starting April 3, 2020. Further, starting on April 10, 2020, independent contractors and self-employed individuals can apply. Although the program will be
By now you’ve likely seen an article or two referencing the federal assistance available for payroll, rent and business expenses associated with the CARES Act, or the Paycheck Protection Plan. Additionally, COVID-19 is likely going to bring up “acts of
COVID-19 impacts almost every area of life and the community. Although we cannot address the myriad of possible issues that may arise, rest assured that as a full-service law firm we are here to help. Whether it is contracts, real
| | Business
In these times when everyone is taking stock of their business situations, many are aware that there have been changes to Arizona’s LLC law. Many are not aware, however of the scope of those changes or how their business is
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