Labor and Employment Law Blog

SBA Publishes PPP Flexibility Loan Forgiveness Interim Final Rule and Updated Applications

On June 19, the Small Business Administration (SBA) published an update to its Interim Final Rules (New IFR) to reflect changes to the Paycheck Protection Program (PPP) put in place under the new Paycheck Protection Program Flexibility Act of 2020 (Flexibility Act). In addition, the SBA provided a new PPP Loan Forgiveness Application and Instructions as […]

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SBA Publishes Loan Forgiveness Interim Final Rule

On May 22, the Small Business Administration published its long-awaited Interim Final Rule regarding loan forgiveness requirements (IFR) for the Paycheck Protection Program. The new IFR confirms several key terms included in the Loan Forgiveness Application and also provides some additional guidance. Click here for a summary of the forgiveness guidance as set forth in […]

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SBA Publishes Loan Forgiveness Application for Paycheck Protection Program

On May 15, the Small Business Administration (SBA) published its long-awaited Loan Forgiveness Application and Instructions for Borrowers (Application). The Application clarified certain forgiveness rules and calculations for the Paycheck Protection Program, although there remain several open issues that we expect the SBA to continue to clarify through an additional Interim Final Rule and FAQs. Click here […]

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