New PPP Rules for Businesses Involved in Bankruptcy Proceedings
April 27th, 2020 - Posted in BA Blog by Jaime Leggett
Many companies have questioned how their insolvency would impact their PPP applications, which require them to affirm that they have been adversely impacted by COVID-19. The SBA has issued a new rule stating that a PPP borrower or its owner cannot be in bankruptcy prior to disbursement of the loan. Per the Rule: (more…)
