On May 27, 2020, the House passed the Paycheck Protection Program Flexibility Act by 417-1, which attempts to ease restrictions on small businesses as they seek loan forgiveness under the Paycheck Protection Program authorized by the CARES Act.  The House bill comes on the heels of new Treasury Department “Interim Final Rules” on PPP loans issued late […]

On Thursday, the SBA announced it will be giving an another $6.8 billion in Paycheck Protection Program (PPP) funds to Community Development Financial Institutions (CDFIs). These nonprofit lending institutions are central to the effort to get relief loans to small businesses in underserved, low-income areas. “The forgivable loan program, PPP, is dedicated to providing emergency capital to sustain our nation’s small […]

The Treasury Department and Small Business Administration are preparing to release much-anticipated forgiveness guidelines for borrowers who were able to secure a Paycheck Protection Program loan — a crucial road map for those who hope to have their federally-backed loan turn into a grant — according to Senate Small Business Committee Chairman Marco Rubio and his Democratic […]

The COVID-19 outbreak has wreaked financial havoc around the globe, leaving many small-business owners struggling in its wake. According to the National Federation of Independent Business (NFIB), as of March 30—still early in the crisis—92% of small businesses said they had suffered negative effects as a result of the pandemic. Just 5% of small-business owners […]

As local and state governments issue shelter-in-place orders, asking residents to remain home for all but essential errands, businesses — especially small local businesses — across the U.S. are facing difficult decisions. These institutions are crucial to our nation’s economy, employing 58.9 million people in the United States, or about 47.5% of the total private […]

f you haven’t yet applied for a PPP (Paycheck Protection Program) loan, you may still have a shot. However, that shot is going to miss its target if you don’t act now–and I mean now.  Let me explain: The initial iteration of the program ran out of its $350 billion of funding almost immediately, and small […]

The first round of $349 billion in funding for the Paycheck Protection Program ran out in less than two weeks. Now that the new Paycheck Protection Program and Health Care Enhancement Act has been signed into law, an additional $310 billion has been designated to help small businesses keep employees on the payroll. The U.S. […]

Entrepreneur is celebrating Women’s Entrepreneurship Day by examining some of the notable women entrepreneurs it profiled this year. As the saying goes, experience is the best teacher. Whether it’s coping with divorce, depression or death, these amazing women have valuable lessons to share. Read more ……

The White House Office of Management and Budget (“OMB”) seeks public input on how to further increase transparency and fairness in civil enforcement matters.  This action implements a portion of the President’s recent Executive Order 13892, “Promoting the Rule of Law Through Transparency and Fairness in Civil Administrative Enforcement and Adjudication.” In that Executive Order, […]