A full-service law firm representing clients across the United States and internationally, Stites & Harbison, PLLC is known as a preeminent firm managing sophisticated transactions, challenging litigation and complex regulatory matters on a daily basis. The firm represents a broad spectrum of clients including multinational corporations, financial institutions, pharmaceutical companies, health care organizations, private companies, nonprofit organizations, and individuals. Stites & Harbison has 10 offices across five states.
Last night, the U.S. Small Business Administration extended the safe harbor deadline for the repayment of Paycheck Protection Program loans from May 14, 2020 to May 18, 2020.
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Last night, the U.S. Small Business Administration extended the
safe harbor deadline for the repayment of Paycheck Protection
Program loans from May 14, 2020 to May 18, 2020. The stated reason
for the last minute extension is for borrowers to have the
opportunity to review and consider the SBA's new guidance
regarding the required certification that the loan is necessary to
support ongoing operations (see yesterday's
S&H Client Alert). Borrowers who repay their PPP loans in
full by the new May 18, 2020 deadline will be deemed to have made
the required necessity certification in good faith.
Originally published May 14, 2020.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
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SBA Extends PPP Loan Safe Harbor Repayment Date To May 18, 2020
United StatesFinance and Banking
Contributor
A full-service law firm representing clients across the United States and internationally, Stites & Harbison, PLLC is known as a preeminent firm managing sophisticated transactions, challenging litigation and complex regulatory matters on a daily basis. The firm represents a broad spectrum of clients including multinational corporations, financial institutions, pharmaceutical companies, health care organizations, private companies, nonprofit organizations, and individuals. Stites & Harbison has 10 offices across five states.
