If you returned all or part of your PPP loan, you could reapply for the maximum amount applicable—provided you had not already received forgiveness. Further, if you would be eligible for a higher loan amount due to interim final rule changes, then you could work with your lender to modify...
If the SBA determines that the borrower was ineligible for a PPP loan, the loan cannot be forgiven. Upon finding ineligibility for the PPP, the SBA may seek repayment of the loan or pursue other remedies. Significantly, if a borrower is found to be ineligible for the PPP loan, the ...
Borrowers are required to submit the Application prior to receiving PPP loan forgiveness. The Application, along with its accompanying instructions and schedules (Schedule A and Schedule A Worksheet), shed light on many questions that have followed the PPP since its creation. Below is...
No. Even with expanded eligibility for PPP and EIDL loans during the pandemic, not all businesses qualified for these loans. For post-pandemic SBA loans, your business must meet the qualifications discussed earlier in the section,Who Is Eligible For An SBA Loan?
disclosure of whether the buyer has an existing PPP loan and, if so, the SBA loan number; and a list of all owners of 20% or more of the purchasing entity. The notice states that the SBA may require additional risk mitigation measures as a condition of its approval of the propo...
2, 2020: The Small Business Administration (SBA) on Tuesday disclosed the names, addresses and precise loan amounts for each Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) borrower. Judge James Boasberg of the U.S. District Court for the District of Columbia last...
Ford Federal Direct Loan Program: Terms and conditions for borrowers The William D. Ford Federal Direct Loan (DL) program, authorized under Title IV, Part D of the Higher Education Act of 1965 (HEA), as amended, is the primary federal student loan program administered by the U.S. ...
The U.S. Small Business Administration releases limited data on the Paycheck Protection Program loans distributed as part of the CARES Act.The data was made...
31, 2021, and by allowing certain existing PPP borrowers to apply for a second draw PPP Loan. “The historically successful Paycheck Protection Program served as an economic lifeline to millions of small businesses and their employees when they needed it most,” said SBA Administrator Jovita ...
In general and subject to certain SBA exclusions, to be eligible for a PPP loan, a business must, after applying the affiliation rules, if applicable: (i) be a small business concern under the SBA’s employee-based or revenue-based size standards, or ...