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Small Business Administration (SBA) Notification: 7(a) Working Capital Pilot Program
On July 15, SBA published a notification of the pilot program and requested comments to provide SBA 7(a) guaranteed lines of credit up to $5 million that may be used to support domestic and international transactions with SBA fees due from the Lender that operate as a function of time, charging a proportional amount for each year the facility is in use. The notification is available here. The WCP Program will be effective from August 1, 2024, through July 31, 2027. Comments close on August 14, 2024.
Upcoming Government Contract Presentations
CONFERENCE: Using JV’s to Win Work with GSA and Beyond, July 23, 2024, Jon Williams
TRAINING: Understanding and Avoiding Affiliation for Small Business Government Contractors, August 26, 2024, Meghan F. Leemon, Emily A. Reid
Small Business Administration (SBA) Press Release: SBA Announces $3 Million in New Grant Funding to Strengthen Cybersecurity Infrastructure for Emerging Small Businesses
On July 15, SBA Administrator Guzman announced new funding under the Cybersecurity for Small Businesses Pilot Program in which three grants will be awarded to state agencies to provide cybersecurity services for startups and emerging entrepreneurs. Read more here.
DHS Official Details Efforts to Harmonize Cyber Incident Reporting Rules, Federal News Network
A top Department of Homeland Security official says DHS is working to harmonize new cyber incident reporting rules, as industry and even some lawmakers criticize the draft rule’s scope and potential duplicative requirements. Read more here.
NATIVE AMERICAN LAW & TRIBAL ADVOCACY
Tribal Governments Receive First-Ever Cyber Grants, Route Fifty
Since the passage of the bipartisan infrastructure law in 2021, states have received hundreds of millions of dollars in grant funding for cybersecurity, out of a pot of $1 billion to be distributed over four years. Now, for the first time, tribal governments are getting a piece of that pie. Read more here.
Department of Interior (DOI) Notice of Proposed Rulemaking: Federal Acknowledgment of American Indian Tribes
On July 12, DOI’s Bureau of Indian Affairs published a second notice proposing rulemaking requesting comments from the public to create a conditional, time-limited opportunity for Federal acknowledgment as an Indian Tribe. The notice is available here. Comments will close on September 13, 2024, at 11:59 PM.
Upcoming Labor & Employment Presentations
CONFERENCE: New Employment Issues in Government Contracting, July 23, 2024, Sarah L. Nash, Nichole D. Atallah
CORPORATE & ORGANIZATIONAL GOVERNANCE
Financial Crimes Enforcement Network (FinCEN) Update: Beneficial Ownership Information (BOI) Frequently Asked Questions (FAQs)
On July 8, FinCEN updated its BOI FAQs to add new questions clarifying the BOI reporting requirements for dissolved entities or those that cease to exist. The FAQs note that reporting is still required if the entity was formed or continued activities after January 1, 2024. The FAQs are available here.