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How will SBA review borrowers’ required good-faith certification concerning the necessity of their loan request? Answer: When submitting a PPP application, all borrowers must certify in good faith that “[c]urrent economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.” SBA, in consultation...

COVID-19 Employee Assistance: What Else Can Businesses Do To Help Their Employees? Employer-Provided Tax-Free Disaster Relief Benefits On March 13, 2020, President Trump enacted the Robert T. Stafford Disaster Relief and Emergency Assistance Act, authorizing him to declare the COVID-19 epidemic a national emergency. By doing so, he...

The US Chamber of Commerce has launched the “Save Small Business Grant Fund”. Funded by contributions from corporate and philanthropic partners, the program provides $5,000 supplemental grants for small employers with 3 to 20 employees in economically affected areas. This program will open TODAY (April 20, 2020)...

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