On June 13, 2023, the U.S. Small Business Administration (“SBA”) issued new FAQ 72 (“FAQ 72”) to help clarify whether amounts paid by borrowers to third-party payers for the third-party payer’s ...
The Senate cleared changes to the popular Paycheck Protection Program on Wednesday that will allow small businesses more flexibility in using the rescue loan funds. The bill, which passed the House ...
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SBA Loan Forgiveness for PPP, EIDL and 7(a) Loans
PPP loans are fully forgivable if requirements are met. EIDL loans advance up to $15,000 don't require repayment. Other SBA ...
The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act was a federal law enacted in or around March 2020 designed to provide emergency financial assistance to the millions of Americans who ...
After COVID-19 shutdowns put Miami hairdresser Vicki LeMaster out of work, a friend recommended that she apply for a Paycheck Protection Program loan through the online lender Kabbage. “I didn’t want ...
The Federal Trade Commission has settled cases with two companies, Biz2Credit and Womply, accused of falsely promising fast processing of PPP loan applications. These are the largest damages amounts ...
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