The Questioning Begins: Potential Liability Under the Paycheck Protection Program
July 6, 2020
The Paycheck Protection Program (PPP) was enacted on March 27, 2020 as part of the CARES Act. It is a small business lending program under the Small Business Administration’s Section 7(a) authority that provides for government-guaranteed loans to be made through a private lender, and was designed to provide a direct incentive for small businesses to keep their workers on the payroll. Further, the SBA will forgive the loans made under the program if employees are kept on the payroll for a certain period of time and the money is used for payroll, rent, mortgage interest, or utilities.
- Jonice Gray Tucker (moderator), Buckley LLP, Washington, DC
- Dan Stipano, Buckley LLP, Washington, DC
- James Petkun, Klehr Harrison Harvey Branzburg LLP, Philadelphia, PA
- Richard Rosenfeld, Mayer Brown LLP, Washington, DC
Presented by: Banking Law Committee
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