A recent analysis of data released by the United States Small Business Administration (“SBA”) suggests that the vast majority of Paycheck Protection Program (“PPP”) loans extended to small businesses during the COVID-19 pandemic have been forgiven. While positive, this news is cold comfort to PPP borrowers for whom forgiveness was denied, or, as we addressed previously, whose lenders required them to apply for forgiveness in amounts less than the full amount of their PPP loans. PPP borrowers can apply for forgiveness of their PPP loans any time up until the loan maturity date (2025 in many cases), and borrowers continue to receive denials of forgiveness for both first- and second-draw PPP loans. As a result, the PPP appeal process remains as important today as at its inception.
Blog Editors
Recent Updates
- Third Circuit Holds that the Public Disclosure Bar Precludes Qui Tam Actions Based on Information Available on Publicly Accessible Databases
- Supreme Court of Ohio Rules on a Peer-Review Privilege Issue in Stull v. Summa
- Agency Actions Remain Judicially Unreviewable Where Congress Has Legislated Clear Agency Authority - SCOTUS Today
- The Loper and Jarksey Era: Agency Power to Award Civil Penalties in SEC and FINRA Under Increased Scrutiny
- Navigating Regulatory Challenges in the Dietary Supplement Industry: Insights on NJ Assembly Bill No. 1848