On April 14 and April 15, 2020, the Small Business Administration (“SBA”) provided additional guidance on the Paycheck Protection Program (“PPP”) through the issuance of a new Interim Final Rule (the “New Rule”), which supplements the first PPP interim final rule published on April 2, 2020, as well as issuing updates to the Frequently Asked Questions document (“FAQs”) originally published on April 2, 2020. The PPP is a small business loan program established pursuant to the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act signed by President Trump on March 27, 2020.
Additional information:
- Bridging the Gap - An Overview of SBA Loans under the Paycheck Protection Program
- CARES Act Relief Checklist: Considerations in Deciding What Relief is Right for Your Business
- SBA Releases Interim Final Rule Outlining Additional Details on Paycheck Protection Program Loans
- What Franchise and Hospitality Companies Should Know! A Guide to CARES and Other Relief Programs
- Relief for Employers and Workers under the CARES Act
