Protection on PPP: Should I Return Loans? What are the Regulatory Risks if Kept?

Presented by Virginia Trial Lawyers Association, Virginia Association of Defense Attorneys, and the Trial Lawyers Association of Washington, DC, 

Chuck James presented what companies can do to mitigate risks with the Small Business Administration’s Paycheck Protection Program (PPP). The Treasury and SBA have issued (and continually update) a FAQ section guiding the Payment Protection Program. A key concern is whether the loan is “necessary” to support ongoing operations and when and how that determination must be made. Most recently, the safe harbor date to return the PPP funds was moved to May 14.  

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