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USDA Loans and the CARES Act

The August 2020 edition of the Fogel Law Group FOCUS provides some insight into the government-guaranteed loan program operated by the United States Department of Agriculture (“USDA”). Known as Business and Industry Loans, or B&I Loans, these USDA Loans (“USDA Loans”) are credit facilities that are available to small businesses, non-profits, cooperatives, and other eligible entities operating in rural areas throughout […]

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Congratulations, you just received your PPP Loan! Now what?

Well, first you need to start using those PPP loan funds for the purposes they are intended and permitted under the CARES Act (“Act”), Pub. L. 116-136. According to the Act, PPP loan proceeds are to be used for only the following purposes: payroll costs; interest payment on any mortgage incurred prior to February 15; […]

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