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SBA and U.S. Treasury Issue Interim Final Rule on Paycheck Protection Program Loan Forgiveness | Hinshaw & Culbertson LLP

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On December 28, 2020, former President Trump signed the Consolidated Appropriations Act. Over 5,000 pages in length, the legislation (referred to herein as the Economic Aid Act) included revisions and additions to the Paycheck Protection Program (PPP). The new PPP will: (1) accept PPP loan applications from eligible borrowers that did not receive a PPP loan under the earlier program (known as First Draw Loans ); (2) permit qualifying businesses that received a PPP loan under the earlier program to receive a second PPP loan (known as Second Draw Loans ); (3) allow existing PPP borrowers not eligible for a Second Draw Loan to spend any remaining PPP funds on permitted expenses, which include additional forgivable expenses; and (4) change PPP rules for existing PPP borrowers, new PPP borrowers, and second draw borrowers in the areas of eligibility, forgivable expenses, and loan forgiveness. ....

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Detailed text transcripts for TV channel - CNN - 20170707:11:44:00

Work across the aisle and draft a more modest plan. mcconnell had suggested that would be a last resort. now he s saying no action on health care, no longer an option. parents and those paying their way through college, listen up. education secretary betsey devos is forcing a court challenge over her decision to delay an obama-era rule to protect student borrowers. this rule clarifies the loan forgiveness process for students who have been defrauded or misled by their colleges. this happens more than you might think. now, devos says the delay is just to improve the rule, but this lawsuit filed by 18 states and the district of columbia accuses devos of siding with for-profit schools over students and families who are drowning in debt. we will stay on that story. so the governor of maine is once again raising eyebrows by suggesting that he invents stories to mislead the media. in a radio interview, governor lepage says he loves to sit in his office and make things up so reporters wil ....

Mitch Mcconnell , Health Care , Last Resort , President Obama , Betsey Devos , Loan Forgiveness Process , Court Challenge , Student Borrowers , District Of Columbia , Radio Interview ,