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Business Loan Program Temporary Changes; Paycheck Protection Program-Requirements-Loan Forgiveness
On April 2, 2020, the U.S. Small Business Administration (SBA) posted an interim final rule announcing the implementation of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The CARES Act temporarily adds a new program, titled the ``Paycheck Protection Program,'' to the SBA's 7(a) Loan Program. The CARES Act also provides for...
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Business Loan Program Temporary Changes; Paycheck Protection Program-SBA Loan Review Procedures and Related Borrower and Lender Responsibilities
On April 2, 2020, the U.S. Small Business Administration (SBA) posted an interim final rule announcing the implementation of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The CARES Act temporarily adds a new program, titled the ``Paycheck Protection Program,'' to the SBA's 7(a) Loan Program. The CARES Act also provides for...