On April 3 2020, the SBA released an interim rule with additional guidance regarding the affiliate rules applicable to the SBA Paycheck Protection Program (PPP). The U.S. Department of Treasury also released interim guidance regarding the affiliation rules applicable to the PPP. As previously reported in our Alert, the program is intended to support small businesses, sole proprietors and independent contractors that have been disproportionately impacted by COVID-19.
About Duane Morris
Duane Morris has created a COVID-19 Strategy Team to help organizations plan, respond to and address this fast-moving situation. Contact your Duane Morris attorney for more information. Prior Alerts on the topic are available on the team’s webpage.
For Further Information
If you have any questions about this Alert, please contact Nanette C. Heide, Sandra G. Stoneman, any member of the COVID-19 Strategy Team or the attorney in the firm with whom you are regularly in contact.