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Since our last client alert on economic relief programs, the Treasury Department has issued additional guidance relating to the Paycheck Protection Program (including a sample PPP application, found here) and the new federal/Treasury loan program. To view the documents and guidance provided on the Treasury’s site, please click here. Of note from the guidance is […]
The Paycheck Protection Loan Program The program streamlines the Small Business Administration (SBA) loan process for businesses affected by the COVID-19 outbreak. The loan is non-recourse except to the extent that the borrower uses the proceeds for a purpose not authorized under the act and no personal guaranty is required. The typical SBA requirement that […]
