On April 6, 2020, the Small Business Administration (SBA), in consultation with the Department of the Treasury, updated some frequently asked questions related to the Paycheck Protection Program (PPP). Click here for their updated FAQs. The following are some key takeaways for borrowers: The exclusion for payroll costs in excess of an annual salary of […]

The Small Business Administration has posted the Interim Final Rule for the Paycheck Protection Program (“PPP”) outlining the key provisions and providing some formal guidance. This rule is being issued to allow for immediate implementation of PPP. The Small Business Administration may provide further guidance, if needed, through notices and a program guide which will […]