Bankruptcy Blog
April 12, 2021
The Small Business Administration Issued New Guidance on the Payroll Protection Program
The Small Business Administration (the “SBA”) on April 6, 2021, issued new guidance on the Payroll Protection Program (the “PPP”) for entities in bankruptcy that wish to participate in the PPP. Moreover, any debtor in a bankruptcy case, or debtor with a part-owner (20% or greater) in bankruptcy, who is considering applying for a PPP loan cannot be “presently involved in a bankruptcy” to be eligible for a PPP loan.