We’ve written a lot about the Paycheck Protection Program as part of the blog’s COVID-19 coverage. The program has really been helping a lot of businesses, so much so that the money ran out a few days ago.
Well, the Senate has approved a bill that would replenish funds for the Paycheck Protection Program, so more companies can get help.
Continue readingI hope all of our readers are doing well and staying healthy. Here at SmallGovCon, we’ve been monitoring the ongoing updates from the federal government for news relevant to federal contractors.
This week, our attorney-authors provided a few more updates about relief for contractors and other businesses under the Paycheck Protection Program as well as other governmental policies. Updates included the formal Paycheck Protection Program rules and guidance on applying for loans for independent contractors and partnerships, as well as SBA’s policies for HUBZone flexibility.
Unfortunately, SBA’s website now states that it is “currently unable to accept new applications for the Paycheck Protection Program based on available appropriations funding.” In other words, the funds have run out.
But there were many other stories as well, such as a prediction that CMMC will apply to all government procurements, use of the Defense Production Act, and DOD accommodating contractors affected by COVID-19.
Continue readingWe’ve written quite a few posts about how contractors can adapt and deal with the changes caused by the COVID-19 pandemic. Some small businesses federal contractors, however, face unique challenges. This is particularly true of participants in the HUBZone Program. Specifically, while the OMB has encouraged agencies to allow contractor employees to telework, how will this affect HUBZone entities, where the location of their employees is key to maintaining their HUBZone status?
Well, the SBA has the answer in some recent guidance, and it’s something we could all probably do with a little more of–flexibility. Flexibility, in this case, means that SBA realizes complying with the principal office and employee residency requirements may be tough during a time when all people are encouraged to telework. The flexibility applies to a few of the HUBZone rules.
Continue readingCMMC continues to be in the news as the government ramps up the process to start requiring contractors to be compliant with the Cybersecurity Maturity Model Certification. In this video, I remind contractors why CMMC is so important.
The SBA is set to release two interim final rules on the Paycheck Protection Program (PPP). While much of the SBA’s guidance and procedure for these loans has already been discussed and released on SBA’s website, this is SBA’s formal rulemaking that aggregates all of the rules on eligibility and how to apply.
The rulemaking also provides a chance for businesses to provide feedback to SBA on what is and isn’t working the program.
Continue readingHere at SmallGovCon, we’re working to keep our readers informed of the rapidly changing situation involving COVID-19 and how federal contractors can adapt and thrive in meeting the federal government’s various needs. We’ve also raised some serious questions and provided practical advice for federal contractors.
There is also a roundup of other interesting news from the federal contracting world as you settle into this Easter weekend.
Continue readingThe title of this post is a touch misleading. Of course the Paycheck Protection Program is helping small businesses. But is it helping the right ones, and is it helping enough of them? Our post last week on the Paycheck Protection Program elicited a lot of feedback. From this feedback and what we’ve heard anecdotally, it’s been tough for many small businesses to get these loans.
But there may be ways for Congress, the SBA, and lenders to make this program–or any similar program that Congress is considering–to help out small businesses more equitably. Below are some questions that policy makers should consider when modifying the Paycheck Protection Program or crafting a similar program in the future.
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