Topics: Small Business Administration (SBA)

Labor Department Issues Independent Contractor Proposed Rule

The Department of Labor on Oct. 11 issued a proposed rule that would expand the definition of who is an independent contractor under the Fair Labor Standards Act (FLSA). More

House Passes COVID-19 Relief Plan

The House of Representatives late Friday night approved 219-212 a budget reconciliation bill reflecting President Biden's $1.9 trillion COVID relief plan, sending the bill to the Senate for consideration. The legislation would provide direct payments, a child tax credit expansion in the form of direct payments, extended unemployment benefits, COBRA subsidies and ACA tax credit enhancements, state & local funding, among other provisions. More

SBA and Treasury Announce PPP Reopening; Issue New Guidance

SBA Issues Guidance on PPP Loan Forgiveness

The Small Business Administration (SBA) released new guidance on how Paycheck Protection Program (PPP) borrowers should apply for loan forgiveness. The guidance came in the form of a Frequently Asked Questions (FAQ) document with 23 questions addressing various issues facing PPP borrowers. More

House to Vote on Small Business Loans

The House is scheduled today to consider two bills related to coronavirus aid. H.R. 7010 from Rep. Dean Phillips (D-Minn.) and 35 bipartisan cosponsors would give businesses more time and flexibility to make qualifying expenditures for loan forgiveness under the Paycheck Protection Program, and allow businesses with forgiven loans to defer payroll taxes. More

NATSO Analysis: Paycheck Protection Program Interim Final Rules (PPP) Members Only Join or Login

The Small Business Administration on May 22 released interim final rules related to the Paycheck Protection Program. The rules outline procedures for borrowers to calculate costs eligible for loan forgiveness in the PPP, how the SBA will review individual loans for forgiveness, and details of the loan forgiveness process for lenders. More

SBA Releases PPP Loan Forgiveness Application and Instructions

SBA Offers Economic Injury Disaster Loans

The U.S. Small Business Administration (SBA) is offering Economic Injury Disaster Loans, low-interest, federal disaster loans for working capital to small businesses that are suffering substantial economic loss as a result of the Coronavirus (COVID-19). More

Treasury Department Posts Documents for Paycheck Protection Program

The $2.2 trillion coronavirus stimulus bill enacted by Congress on March 27 provides cash assistance to small businesses that keep their employees or recall employees they have furloughed or laid off due to financial hardships related to COVID-19. Small businesses as well as individuals who are self-employed or are independent contractors are eligible if they also meet program size standards. More

NATSO Analysis: The Cares Act, Phase III Stimulus Package Members Only Join or Login

The Senate approved 96-0 the approximately $2 trillion "Phase III" stimulus bill known as the CARES Act. The House is expected to pass the bill by today after which the President is expected to sign the measure. This summary focuses on those issues of most concern to the travel center industry. More

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