Control of a Set-aside Entity
Effective September 8, 2021, the U.S. Small Business Administration (“SBA”) significantly expanded the ability of small businesses to apply for low-interest loans through the revised COVID Economic Injury Disaster Loan...more
As part of the outgoing administration’s effort to eliminate and simplify regulations, the SBA issued a final rule – effective November 16, 2020 – to merge “the 8(a) Business Development (BD) Mentor Protégé Program and the...more
The “qualified small business stock” (QSBS) tax exemption under Section 1202 allows non-corporate founders and investors in certain emerging growth companies to potentially exclude up to 100% of the U.S. federal capital gains...more
Information technology (IT) and consulting businesses have continued to attract private equity attention and dollars. For IT businesses contracting with the federal government, there are additional attractions for private...more
We have been sharing client alerts about the Small Business Administration (“SBA”) Paycheck Protection Program (“PPP”) created by the CARES Act. Below are some frequently asked questions and answers with respect to the PPP...more
Since the enactment of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020, the U.S. Small Business Administration (the “SBA”) and the U.S. Treasury Department (“Treasury”) have issued a...more
The Small Business Administration (SBA) recently released additional guidance that businesses that are part of a single corporate group shall in no event receive more than $20 million of Paycheck Protection Program (PPP)...more
On April 24, 2020, the Paycheck Protection Program and Health Care Enhancement Act was signed into law, appropriating $75 billion for hospitals and other eligible health care providers for health care related expenses or lost...more
As previously reported, the Small Business Administration (SBA), in consultation with the Department of Treasury, has separately issued an interim rule on its affiliation rules and Frequently Asked Questions (FAQs) on the...more
On the heels of the Paycheck Protection Program (PPP) Interim Final Rule issued on April 2, 2020, the Treasury Department and the Small Business Administration (SBA) released additional PPP guidelines in the form of FAQs on...more
The CARES Act provides $350 billion to the Paycheck Protection Program to allow the Small Business Administration (SBA) to guarantee 100% loans (with interest rates not to exceed 4%) made by local SBA preferred lenders to...more
Companies affected by COVID-19 must carefully consider immigration implications for all foreign national and expat employees, including issues of immigration compliance. Those businesses with employees working in the United...more
The COVID-19 crisis has spurred unprecedented government action on multiple fronts, including the passage of the Coronavirus Aid, Relief, and Economic Security legislation (the “CARES Act”). The legislation is...more
An important improvement aimed at ensuring a faster, less expensive, and more tailored approach to reorganizations involving smaller businesses was embedded in the recent $2 trillion recovery package known as the Coronavirus...more
The Coronavirus Aid, Relief and Economic Security (CARES) Act provides economic relief to organizations, including nonprofits, facing financial challenges as a result of the coronavirus (COVID-19) pandemic....more
On April 3, the Small Business Administration issued two additional rule updates affecting the Paycheck Protection Program. First, it provided a summary of the affiliation rules to be used by applicants in connection with the...more
Despite assertions from Congressional leaders on both sides of the aisle that the affiliation rules would be waived for applicants with outside minority investors, additional SBA guidance only provided relief for faith-based...more
The Coronavirus Aid, Relief, and Economic Security (CARES) Act is the most ambitious of numerous federal, state and local efforts to aid individuals and small businesses adversely affected by COVID-19. We previously...more
The Paycheck Protection Program Under the CARES Act Title I of the recently enacted CARES Act provides for the Small Business Administration’s (SBA’s) Paycheck Protection Program (PPP) to assist eligible borrowers with loans...more
Depending on size and tax-exemption status, nonprofit organizations may be eligible for federal relief. Nonprofit organizations can qualify for financial relief under certain provisions of the CARES Act, which is designed to...more
A key feature of the nearly $2 trillion economic stimulus bill signed into law on March 27, 2020, is the creation of a $350 billion “Paycheck Protection Program” (PPP) to authorize loans to businesses affected by the COVID-19...more
On March 30, 2020, CMS issued blanket waivers of sanctions under the Federal physician self-referral law (the Stark Law) for purposes of responding to the COVID-19 pandemic (Stark Waivers or Waivers). The Stark Waivers,...more
As of April 2, 2020 On March 27, 2020, Congress passed and the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), which is an approximately $2 trillion stimulus and economic relief...more
The COVID-19 virus crush is upon us at this moment. Like in 2008 with TARP, the government has invited businesses around the country to apply for CARES Act relief to help survive this pandemic...more
The Treasury Department has recently published the Paycheck Protection Program Loans Frequently Asked Questions (PPP FAQs). The Treasury Department’s publication provides businesses and lenders desperate guidance related to...more