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 readingAs the social isolation saying goes: “Another day; another clarification from the SBA regarding the Paycheck Protection Program.” Alright, maybe that saying hasn’t caught on, yet. Nevertheless, the SBA did publish additional guidance specific to sole proprietors and general partners applying to the Paycheck Protection Program (PPP).
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 readingThe 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 readingWell, we thought we had this figured out. Yet here we are a week later and we keep hearing conflicting reports.
The question remains, can a foreign-owned company receive a Paycheck Protection Program loan or not? Let’s try to figure it out.
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