SBA: It’s (Maybe) Fine if You Didn’t Count the Employees of Your Foreign Affiliates for PPP Purposes

Posted on May 22, 2020 by SmallGovConContributor

In what might be a classic “now you tell me” scenario, the SBA issued a new rule May 21 saying that if an applicant failed to count the employees of its foreign affiliates when it was determining its eligibility, the SBA will not hold that against the applicant so long as the application was submitted before the SBA clarified that requirement.

The problem with that, however, is that because the safe harbor ended May 18, it’s highly likely that a lot of those businesses already gave their PPP loan back. They’d be forgiven for thinking they had to, as earlier this month Sen. Marco Rubio was indicating that Congress would investigate companies who took PPP funds for which they weren’t eligible.

SBA Releases PPP Loan Forgiveness Application

Posted on May 21, 2020 by Shane McCall

On May 15, SBA released the Paycheck Protection Program Loan Forgiveness Application. Because loan forgiveness was a huge component of Paycheck Protection Program, the application is hugely important. While this post won’t do a deep dive into the loan forgiveness rules, we wanted to bring this to the attention of our blog readers.

GAO Catch-22: A Protest is Both Too Late and Too Early

Posted on May 20, 2020 by SmallGovCon Contributor

Over the years, we’ve written a fair number of blogs about how contractors have been either too early or too late to protest. What we haven’t blogged about is a situation where a contractor is premature and late. Unfortunately for one protester, GAO has recently confirmed that you can, indeed, be both too early and too late to protest.

Running the Numbers: SBA OIG Tallies Up Handling of PPP Loans

Posted on May 18, 2020 by Shane McCall

The SBA’s Office of Inspector General released an early report on SBA’s handling of the Paycheck Protection Program (PPP). The report identified some important areas where SBA has not quite hit the mark in matching the priorities of the Coronavirus Aid, Relief, and Economic Security (CARES) Act with SBA’s implementation and guidance for PPP loans.

PPP Loans: To Take or Not To Take?

Posted on May 15, 2020 by Nicole Pottroff

Many small businesses are struggling right now. And PPP loans may offer some much-needed relief under the circumstances. But how do you know if it is a good idea to accept the loan for your company?

Unfortunately, the only answer is “it depends.” There is no one-size-fits-all response because each company—and the effect of COVID-19 on each company’s business—is different. However, SBA’s recent guidance has provided a few crucial considerations for making this decision.

SmallGovCon Week In Review: May 11 – May 15, 2020

Posted on May 15, 2020 by Shane McCall

This week on the blog we continued to bring you coverage of COVID-19 related issues, including some timely updates on SBA’s extension of the deadline to return funds under the Paycheck Protection Program.

But there was much more federal contracting news this week, including articles about a fill-in for the 8(a) STARS II vehicle, restructuring of government IT procurement units, and a proposed new COVID-19 relief bill that could help federal contractors.

UPDATE: SBA Extends PPP Loan Payback Safe Harbor Provision Deadline (Again!) to May 18

Posted on May 14, 2020 by SmallGovConContributor

Since our post yesterday, the SBA has once again updated the safe harbor deadline for paying back Paycheck Protection Program loans to Monday, May 18.