Newsflash: The Final Rule Implementing SBA Certification for WOSBs Is Here!

Update 5/14/2020: Since this post was originally published, SBA’s website has clarified when SBA Certification will be available and when Self-Certification will end. The post has been updated to reflect this information.

On Monday, the Small Business Administration will publish a Final Rule updating the certification methods for businesses applying for and participating in the Women-Owned Small Business program. The new Rule will also impose new thresholds for demonstrating economic disadvantage, impacting applicants not only for the WOSB program, but also the 8(a) Business Development program.

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CAAC Recommends Class Deviation to Accelerate Payments to Small Business Contractors

In the ongoing effort to minimize the effects of COVID-19, the Civilian Agency Acquisition Council (CAAC) has recommended that agencies implement a class deviation to accelerate payments to small business prime contractors to prime contractors with small business subcontractors.

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Senate Approves Bill to Replenish Paycheck Protection Program Funds

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.

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SBA Updates Interim Paycheck Protection Program Rule for Self-Employed Individuals

As 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).

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SBA Formalizes Guidelines on Paycheck Protection Program, Will Accept Public Comment

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.

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SBA, Can a Foreign-Owned Entity Receive a PPP Loan or What?

Well, 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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