SSM
  • Home
  • News
  • Team
    • Teela Crosthwaite Smith
    • Lindsey S. Mignano
    • Kelly Lawton-Abbott
    • Seth Pardee
    • Jessica Ryland
    • Jennifer Junkin
    • Eric A. Cox II
    • Philip Omorogbe
    • Shinjini Ray
    • Jason Galek
    • Makell Morrill
    • Tyler Collins
    • Dana Short
  • Deck
  • Blog
  • Contact
  • Home
  • News
  • Team
    • Teela Crosthwaite Smith
    • Lindsey S. Mignano
    • Kelly Lawton-Abbott
    • Seth Pardee
    • Jessica Ryland
    • Jennifer Junkin
    • Eric A. Cox II
    • Philip Omorogbe
    • Shinjini Ray
    • Jason Galek
    • Makell Morrill
    • Tyler Collins
    • Dana Short
  • Deck
  • Blog
  • Contact
Search

blog

SBA's Additional Guidance on Borrower Certification & Salesforce $10K Grants for Small Businesses and Startups

4/24/2020

 
Picture
Since we published our last blog on the Paycheck Protection Program: Certifications and Eligibility, the Small Business Association (“SBA”) has issued additional guidance regarding borrower’s certification that the "current economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.”  The additional guidance, dated April 23, 2020, may be found here at Question 31:

“before submitting a PPP application, all borrowers should carefully review the required certification that ‘current economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.’ Borrowers must make this certification in good faith, taking into account their current business activity and their ability to access other sources of liquidity sufficient to support their ongoing operations in a manner that is not significantly detrimental to the business.” (emphasis added).

For companies that have accepted funding from the first round of Paycheck Protection Program financing earlier this month, there is an “Amnesty Program” in which “[a]ny borrower that applied for a PPP loan prior to the issuance of this guidance and repays the loan in full by May 7, 2020 will be deemed by SBA to have made the required certification in good faith.” [FN 1]

Second, in addition to the Facebook Small Business Grants we discussed earlier in our last blog from Marpe Finance entitled $10K Free Money & More For Small Businesses and Startups, Salesforce will be offering their Small Business Grants beginning on April 27, 2020 at 8 am PST.  The application for West Coast applicants is here.

Footnotes:
  1. See https://www.wraltechwire.com/2020/04/24/rethinking-necessity-sba-provides-additional-ppp-guidance-and-amnesty-in-latest-faqs/

Smith Shapourian Mignano PC is available to answer any questions or concerns you may have regarding grant options for your business.

This blog does not constitute solicitation or provision of legal advice, and does not establish an attorney-client relationship. This blog should not be used as a substitute for obtaining legal advice from an attorney licensed or authorized to practice in your jurisdiction. You should always consult a suitably qualified attorney regarding any specific legal problem or matter in a timely manner, as statutes of limitations may bar your claim.

Comments are closed.

    Archives

    February 2023
    October 2022
    September 2022
    September 2021
    June 2021
    May 2021
    March 2021
    January 2021
    December 2020
    October 2020
    September 2020
    August 2020
    June 2020
    May 2020
    April 2020
    March 2020
    January 2020
    June 2019
    April 2019
    March 2019
    February 2019
    November 2018
    October 2018
    September 2018
    May 2018
    April 2018
    March 2018
    February 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    January 2017
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016

    Categories

    All
    83(b) Elections
    Arbitration
    Benefit Corporation
    Bootstrapping
    Business Name
    Buy-Sell Agreement
    Cannabis
    CBD
    Cloud
    Commercial Lease
    Contracts
    Conversion
    Coronavirus
    Crowdfunding
    Delaware Flip
    Dissolution
    Early Hires
    Employers
    Employment Law
    Entrepreneurs
    Entrepreneur Spotlight
    Financials
    Funding/Financing
    GDPR
    Guest Blogger
    Health Care
    HR
    Industrial Hemp
    Insurance
    IT Solutions
    Joint Ventures
    Litigation
    LLC
    LOEN
    Logo
    Marketing
    Non Profits
    Non-Profits
    Partnerships
    Patent
    Pitch Deck
    Privacy Policy
    Professional Corporation
    Raising Money
    S Corp
    Securities
    Settlement
    Small Business
    Sole Proprietorship
    Startups
    Stock Options
    Tax
    Trademarks
    Website

    RSS Feed


​© 2024 SSM Law PC.  All Rights Reserved.
Privacy Policy 
Terms of Use
Accessibility Statement

Attorney Advertising 
​Client Reviews & Testimonials

​

  • Home
  • News
  • Team
    • Teela Crosthwaite Smith
    • Lindsey S. Mignano
    • Kelly Lawton-Abbott
    • Seth Pardee
    • Jessica Ryland
    • Jennifer Junkin
    • Eric A. Cox II
    • Philip Omorogbe
    • Shinjini Ray
    • Jason Galek
    • Makell Morrill
    • Tyler Collins
    • Dana Short
  • Deck
  • Blog
  • Contact