The U.S. Small Business Administration (SBA) posted a new webpage titled Cross Program Eligibility on SBA Coronavirus Relief Options on their sba.gov website. The webpage includes this chart, which summarizes the criteria that must be met by applicants when considering the following Coronavirus … [Read more...] about SBA Posts Guidance on Eligibility for Different Relief Options
Economic Injury Disaster Loan
Congress Approves New Coronavirus Stimulus Package
After months of negotiations, the U.S. House of Representatives and the U.S. Senate voted last night to approve a new stimulus package, as part of a larger $2.3 trillion appropriations bill to fund the Federal Government for fiscal year 2021. The new stimulus package will provide much-needed relief … [Read more...] about Congress Approves New Coronavirus Stimulus Package
Federal Judge Orders SBA to Release Detailed Borrower Information
Updates December 1, 2020 | The U.S. Small Business Administration (SBA) released detailed PPP and EIDL borrower information for all loans pursuant to a court order, after a Federal judge lifted the temporary stay it granted the SBA in November, after the agency lost a FOIA case brought by various … [Read more...] about Federal Judge Orders SBA to Release Detailed Borrower Information
SBA Issues New Rule on Timing of Disbursements
On April 28, 2020, the U.S. Small Business Administration ("SBA") posted a sixth Interim Final Rule on Disbursements. This Interim Final Rule supplements previous regulations and guidance on several important, discrete issues related to the Paycheck Protection Program ("PPP"). The immediate … [Read more...] about SBA Issues New Rule on Timing of Disbursements
President Signs $484 Billion Coronavirus Aid Bill
On Friday, April 24, 2020, President Trump signed the $484 billion Paycheck Protection Program and Health Care Enhancement Act (H.R. 622) into law, after it was approved by the House of Representatives on April 23. The Senate previously approved this measure on April 21, after days of intense … [Read more...] about President Signs $484 Billion Coronavirus Aid Bill
Senate Approves Additional Funding Bill for SBA Loan Programs
After days of extensive negotiations, the U.S. Senate voted to approve new legislation on Tuesday, April 21, earmarking an additional $484 billion of new funding for critical COVID-19 relief programs including the Paycheck Protection Program ("PPP") and other disaster loan and grant programs … [Read more...] about Senate Approves Additional Funding Bill for SBA Loan Programs