( February 6, 2026, 1:58 PM EST) -- PHILADELPHIA — Concluding that for the purposes of Paycheck Protection Act (PPP) loan forgiveness, payments by a business to independent contractors should not be included in the calculation of the business’s payroll costs, a Third Circuit U.S. Court of Appeals panel unanimously reversed a ruling by a Pennsylvania federal court that the Small Business Administration (SBA) acted arbitrarily and capriciously in denying forgiveness for a portion of a business’s PPP loan....