SBA Releases Loan Necessity Questionnaire for PPP Borrowers

On October 26, 2020, the Small Business Administration (SBA) issued a notice in the Federal Register that, among other updates, announced two new forms, 3509 and 3510 (the Forms),  related to the Paycheck Protection Program (PPP).  Form 3509 is for for-profit businesses, while 3510 applies only to non-profit entities.  These Forms will be sent by PPP lenders only to PPP borrowers who received a principal loan amount of $2 million or more, and borrowers will have ten days to complete it.  According to . . . Read More

PilieroMazza Summarizes SBA’s Final Rule on Mentor-Protégé Programs

Today, SBA issued its final rule making changes to its rules on joint ventures, the mentor protégé program, the Section 8(a) program, and much more.  In developing this final rule, SBA reviewed and considered the many comments it received, and PilieroMazza believes that the final rule makes many positive changes that will simplify its procedures for small businesses, particularly 8(a) program participants.  Below we summarize major changes in the final rule.  If you have questions concerning SBA’s final rule on its Mentor Protégé Programs, . . . Read More

SBA Adopts Critical Rule Change on Small Business Recertification: Tweaking Its “Technical Correction”

As we recently highlighted , on October 16, 2020, the U.S. Small Business Administration (SBA) enacted a final rule (Rule) that merges the 8(a) Business Development Mentor-Protégé Program and the All Small Mentor-Protégé Program and makes a number of other significant changes that impact the small business contracting community. One modifies SBA’s recertification rules and will directly affect a contractor’s ability to pursue options and orders set aside under pre-existing contracts. SBA’s regulations require a concern to recertify its small business size / socio-economic . . . Read More

SBA Issues Guidance for PPP Lenders on Required Consents for Change in Ownership of PPP Borrowers

On Friday, October 2, the U.S. Small Business Administration (SBA) issued guidance for lenders administering loans under the Paycheck Protection Program (PPP) regarding what involvement by the SBA (if any) is required when a PPP borrower undergoes a transaction resulting in a change in ownership.  This guidance addresses several questions with which PPP borrowers and lenders have been struggling over the past several weeks and provides clarity around what the expectations are for when SBA consent is required and what . . . Read More

SBA in FY21: What’s Ahead for the Small Business Programs

PilieroMazza is a proud sponsor of the Small and Emerging Contractors Advisory Forum (SECAF), and partner Jon Williams is the Co-Chair of SECAF’s Planning Committee. On October 14th, SECAF will be hosting a panel discussion focused on the Small Business Administration (SBA) that may be of interest to many of our clients. Titled “SBA in FY21: What’s Ahead for the Small Business Programs,” the webinar will feature two panelists from SBA, Barbara Carson, SBA’s Deputy Associate Administrator for the Office of Government . . . Read More

Tony Franco Comments on SBA’s Procurement Scorecard for Law360

The annual dollar value of federal contracts awarded to small businesses broke a record in 2019 for the third year in a row, but the positive numbers obscure the continuing decline in the number of small businesses that participate in government deals. . . . The drop can be at least partially attributed to federal agencies consolidating their contractual needs into fewer and larger procurements. While this may be efficient, it also cuts against other government goals like maximizing competition . . . Read More

Certain SBA Loan Review Decisions Under Paycheck Protection Program Appealable

Millions of small businesses applied for and received loans under the Paycheck Protection Program (PPP), which was a temporary program established under the CARES Act enacted by Congress to provide relief to America’s small businesses due to the devastating effects of COVID-19.  But some businesses were denied loans and others are seeking forgiveness, only to find that they were deemed ineligible for full or partial forgiveness.  A new rule may provide small businesses with options to appeal these decisions. An . . . Read More

SBA Issues More New Guidance on PPP Loan Forgiveness

In a new FAQ published on August 4, 2020, SBA clarified some additional points from the use of scanned documents to support the application to the forgiveness eligibility of costs incurred or paid during the chosen covered period. As always, PilieroMazza wants to bring this to the attention of all of our clients as we know many firms are currently preparing their forgiveness applications and these may be critical updates. General Loan Forgiveness If you are a sole proprietor/1099 or . . . Read More