Small Business

NHTSA Issues Takata Air Bag Recall The U.S. Small Business Administration in conjunction with the U.S. Department of Treasury released new guidance regarding the Paycheck Protection Program (PPP). The interim rules can be found here: Interim Final Rule on Loan Forgiveness (Released May 22, 2020) Interim Final Rule on Loan Review Procedures and Related Borrower Responsibilities (Released…

NHTSA Issues Takata Air Bag Recall Congressman Chip Roy (R-TX), along with Congressman Dean Phillips (D-MN), Congressman Tom Emmer (R-MN), and Congressman Fred Upton (R-MI)  introduced H.R. 6886, the Paycheck Protection Flexibility Act. The bipartisan bill will make necessary changes to the Paycheck Protection Program (PPP) as business owners nationwide have expressed concerns with the…

NHTSA Issues Takata Air Bag Recall Congressman Dean Phillips (D-MN) and Congressman Chip Roy (R-TX) introduced H.R. 6886, the Paycheck Protection Flexibility Act. The bipartisan bill will make necessary changes to the Paycheck Protection Program (PPP) as business owners nationwide have expressed concerns with the program. The legislation will: Allow forgiveness for expenses beyond the…

NHTSA Issues Takata Air Bag Recall   U.S. Senate Committee on Banking, Housing, and Urban Affairs convened a remote hearing today entitled “The Quarterly CARES Act Report to Congress.” In his opening statement U.S. Department of Treasury Secretary Steven Mnuchin stated that the Department has “worked closely with the[U.S.] Small Business Administration [SBA] on the…

NHTSA Issues Takata Air Bag Recall The U.S. Small Business Administration is working in conjunction with the U.S. Department of Treasury on the implementation of the Paycheck Protection Program (PPP). The PPP was established under H.R. 748, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, in response to the ongoing COVID-19 pandemic. The SBA…

NHTSA Issues Takata Air Bag Recall In a interim rule, the U.S. Small Business Administration (SBA) provided that any borrower who applied for a PPP loan and repays the loan in full by May 14, 2020 will be deemed by SBA to have made the required certification concerning the necessity of the loan request in…

NHTSA Issues Takata Air Bag Recall The U.S. House Committee on Small Business held an online forum with Small Business Administration (SBA) lenders to discuss the Paycheck Protection Program (PPP) and future efforts. Throughout the online forum, similar sentiments were expressed from members of Congress and panelists praising the work done thus far from the…

NHTSA Issues Takata Air Bag Recall The U.S. Small Business Administration is working in conjunction with the U.S. Department of Treasury on the implementation of the Paycheck Protection Program (PPP). The PPP was established under H.R. 748, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, in response to the ongoing COVID-19 pandemic. The SBA…

NHTSA Issues Takata Air Bag Recall The U.S. House of Representatives Democratic leadership unveiled the COVID-19 fourth stimulus package. The House is expecting to vote on the package on Friday. The bill also makes changes to the Paycheck Protection Program (PPP), including expansions to the types of organizations that are eligible for the loans, specifically…

NHTSA Issues Takata Air Bag Recall The Washington Post reported that the U.S. Small Business Administration (SBA) is decreasing the loan limit for the Economic Injury Disaster Loan (EIDL) program from $2 million to $150,000 for small businesses and is blocking new applications due to the programs popularity. Congress recently replenished the EIDL program, however,…