On June 5, 2020, President Trump signed the Paycheck Protection Program Flexibility Act of 2020 (the “Act“) into law. The Act provides borrowers under the Paycheck Protection Program (“PPP“) with additional time and flexibility in their use of PPP loan
Last Updated: May 13, 2020 UPDATE: On May 13, the SBA and Treasury Department released FAQ #46, which provides that: Any borrower that, together with its affiliates, received PPP loans with a principal amount of less than $2m will be
Last Updated: May 15, 2020 UPDATE: On June 5, 2020, President Trump signed the Paycheck Protection Program Flexibility Act of 2020 (the “Act“), which changes many of the terms and features described in this note. Among other things, borrowers now
Last Updated: April 2, 2020 The Families First Coronavirus Response Act (the “FFCR”) was signed into law on March 18, 2020 and takes effect today.[1] Among the many provisions in the FFCR — which is aimed at responding to the