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Senate Passes the Paycheck Protection Flexibility Act; President Signs into Law on June 5, 2020

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On Wednesday, June 3, 2020, the Senate passed the Paycheck Protection Program Flexibility Act of 2020 (the ”Act”), which the President signed into law on June 5, 2020. This Act significantly changes the Paycheck Protection Program. Note, we expect additional regulations to modify or clarify aspects of this Act, as was the case with the PPP. …

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SBA Releases PPP Forgiveness Application, Providing Guidance

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The Small Business Administration has unveiled the Paycheck Protection Program Loan Forgiveness Application. The application offers the first set of significant guidance regarding loan forgiveness under the program including expected documentation, changes to certain definitions, and processes for numerous calculations involved in the determination. Access to such information allows for a tremendous opportunity for proper …

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