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Paycheck Protection Program Portal

Overview

At Schwabe, we understand that navigating the Paycheck Protection Program (“PPP”) can be challenging.

We established our CARES Act task force with attorneys who provide a spectrum of business and industry-focused legal services for our clients. Together, they examine the PPP business loan program established by the federal government’s Coronavirus Aid, Relief, and Economic Security Act (as amended, “CARES Act”) from every angle.

The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the “Economic Aid Act” or “PPP2 Act”) was enacted on December 27, 2020. On January 6, 8, and 17, 2021, the Small Business Administration (the “SBA”) in consultation with the Department of Treasury (“Treasury”) posted new loan application forms, new guidance, and interim final rules on First Draw and Second Draw PPP Loans, and on January 19, 2021, they posted new forgiveness application forms and an interim final rule on Loan Forgiveness Requirements and Loan Review Procedures as Amended by Economic Aid Act. They continue to update lender information and frequently asked questions. We have published new articles to cover these changes and the changes to documentation and eligibility; and we have updated other applicable articles.

 
Legal Articles:

Throughout our articles, we provide general overviews of the PPP loan application process, forgiveness eligibility, and review process as updated by the Economic Aid Act. Borrowers considering applying for PPP funding or loan forgiveness should familiarize themselves with the SBA guidance regarding the loan applications and forgiveness review process. By adopting a forward-thinking and proactive approach to loan forgiveness and its review, borrowers might increase the likelihood of having their loans forgiven.

These articles summarize aspects of the law relevant to the PPP program and do not constitute legal advice. For legal advice for your situation, we encourage you to contact a Schwabe attorney today.

View Recent Articles+
 

Schwabe Shareholder Carmen Calzacorta looks at PPP loans in the context of changes of ownership asset transactions and mergers.

 
Schwabe Shareholder Dan Eller discusses some of the most frequently asked PPP questions.

 
Schwabe Associate Savannah Wolfe explores questions around the extended PPP Loan Forgiveness Covered Period.

 
Schwabe Associate Omar F. Contreras gives an overview for PPP borrowers on the most important loan documentation considerations.

 
Schwabe Shareholder Charmin Shiely walks through the PPP Loan Flexibility Act to offer clarity to help viewers determine if they need to take action for their loan.

 

Visit our COVID-19 and CARES Act resource pages for more information.  

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