Fraud Alert: FinCEN has flagged that it has been notified of recent fraudulent attempts to solicit information from individuals and entities who may be subject to reporting requirements under the Corporate Transparency Act. The fraudulent correspondence may be titled “Important Compliance Notice” and asks the recipient to click on a URL…

On Monday, January 11, The U.S. Small Business Administration (SBA), in consultation with the U.S. Treasury Department, reopened the Paycheck Protection Program (PPP) loan portal. Below is a summary of First and Second-Draw PPP loan eligibility requirements. On December 27, 2020, the Consolidated Appropriations Act, 2021, became law. Title III…

Last week, additional SBA guidance was issued providing additional clarity to the certification all PPP loan applicants must make that “[c]urrent economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.” The new guidance language indicates in part that “Borrowers must make this certification in…

Last week and over the past two days, new guidance has trickled out of the SBA regarding the Paycheck Protection Program loans (PPP Loans). Specifically, a third Interim Final Rule was issued  and the FAQ was updated. Below we’ve outlined important updates for you to know. Check our PPP resource…

KO client soona recently closed on a $1.185 million financing that included the newly created Candor Clause, an open-source clause intended to promote a radically open dialogue between founders and their potential investors around sexual harassment. I recently talked with Liz Giorgi, co-founder of soona, a same-day professional photo and…