May 2020 - Page 2 of 2

PPP Loan Update: SBA Releases ‘Good Faith’ and Safe Harbor Thresholds

January 25, 2023May 13, 2020 by K·Coe Editorial

Reading Time: 2 minutes

Update: Safe Harbor Thresholds date extended to May 18, 2020 for PPP loan repayment. In response to uncertainties surrounding the good faith certification requirement on Paycheck Protection Program (PPP) loans, the Small Business Administration (SBA), in consultation with the Department of the Treasury, has announced a determination of safe harbor …

Fed Provides Clarity on Main Street Lending Program for Small and Medium-size Businesses

January 26, 2023May 1, 2020 by K·Coe Editorial

Reading Time: 3 minutes

Following its release of the Main Street Lending (MSL) program three weeks ago, the Federal Reserve has issued more detail on guidance, answered Frequently Asked Questions (FAQs), and made some adjustments to the original scope of the program. “After listening to the press conference delivered by Fed Chair Powell, and …

PPP Certification Criteria: 3 Questions for Every Business

January 31, 2023May 1, 2020 by K·Coe Editorial

Reading Time: 3 minutes

Recently, we learned that Shake Shack, the LA Lakers organization, and many other businesses have returned Paycheck Protection Program (PPP) funds due to concerns over alleged misuse of the program’s loan criteria. In response to these highly publicized events, U.S. Treasury Secretary Steven T. Mnuchin and SBA Administrator Jovita Carranza …

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