Michael Flynn, Of Counsel at Buchalter, will speak on the Paycheck Protection Program changes – The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Act), signed by the President on December 27, 2020, and subsequent guidance from Treasury and the Small Business Administration have modified the PPP in two significant ways. The Act and the new guidance created a new Second Draw Loan category, enabling eligible businesses that had previously gotten a PPP loan to apply for a supplemental PPP loan in amounts that could be as high as $2 million; they clarified that certain eligible borrowers who have not previously obtained a PPP loan may seek to obtain such a loan before March 31, 2021; and they clarified the requirements for eligibility and forgiveness of both types of loans.
Melissa Richards, Of Counsel at Buchalter, will discuss understanding the proposed rule provisions coming out of the California Department of Financial Protection and Innovation (fka Department of Business Oversight) that would impose new early disclosure requirements on covered commercial lenders that are CFL licensed or subject to CFL licensing, how your company can be ready for the final California commercial loan disclosure rules, transitioning of all CFL licensees and new applications onto the Nationwide Mortgage Licensing System online platform, and new license requirements for consumer debt collectors under SB908 starting January 1, 2022.
The event will take place on January 12th, 2021.
