PPP Ineligibility Update: Businesses Ineligible for First Draw and Second Draw PPP Loans
By EsqSocial Corporation 19/01/21
The Coronavirus Aid, Relief, and Economic Security Act (as amended and modified, the “CARES Act”) was enacted to provide immediate assistance to individuals, families, and businesses affected by the COVID-19 emergency. Among other provisions, the CARES Act allowed Congress to authorize the Small Business Administration (“SBA”) to temporarily guarantee forgivable loans under a new 7(a) loan program titled the Paycheck Protection Program (“PPP”)......
By: Schwabe, Williamson & Wyatt PC