Where Are We Now? An Up-to-Date Guide to the Paycheck Protection Program

Proskauer Rose – This alert (I) summarizes the key terms of the PPP (as amended and supplemented by the Economic Aid Act, the EAA Updated Rules and the ARPA), (II) addresses certain frequently asked questions that Proskauer attorneys have addressed, and (III) provides a brief overview of the Federal Reserve’s Paycheck Protection Program Lending Facility, which is aimed at helping participating lenders originate more loans under the PPP loan for the many businesses, non-profits, and other eligible organizations in need of financial relief as a result of COVID-19.