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Congress Passes New and Additional Business, Tax Relief Measures in COVID-19 Stimulus Bill

On Monday, December 21, Congress enacted a $900 billion stimulus package to support American workers and businesses impacted by COVID-19. This summary provides an overview of the business and tax relief measures contained in...more

COVID-19: Main Street Lending Program Now Open for Applications

The Federal Reserve’s Main Street Lending Program opened for lender registration June 15, 2020, enabling qualifying lenders to begin accepting applications for the much-anticipated program....more

Prepare for the Main Street Lending Program! It’s Rolling Out Soon

Businesses impacted by the COVID-19 pandemic have been eagerly anticipating this important loan program, which according the Federal Reserve Bank of Boston, is now scheduled to launch within “days,” not “weeks.”...more

U.S. House Passes Bill to Provide Greater Flexibility for PPP Borrowers; Senate to Act Next

On Thursday, May 28, 2020, the U.S. House of Representatives passed H.R. 7010, a bill that would provide businesses greater flexibility in how they spend Paycheck Protection Program (PPP) loan proceeds while still allowing...more

Additional Guidance Issued on PPP Loan Forgiveness, Loan Review Procedures

The Small Business Administration (SBA) recently released two interim final rules to accompany the new Paycheck Protection Program (PPP) Loan Forgiveness Application. ...more

COVID-19: PPP Loan Forgiveness Application Released

The ability to have a Paycheck Protection Program (PPP) loan forgiven is perhaps the most important part of the program—turning a low-interest loan into a grant. ...more

Paycheck Protection Program: SBA Clarifies Audit and Enforcement Intent Regarding Loan Recipient’s Financial Hardship...

On May 13, 2020, the Small Business Administration (SBA) updated its Frequently Asked Questions (FAQs) to provide important safe harbors on the Paycheck Protection Program’s (PPP) requirement that a borrower make a good faith...more

COVID-19: PPP Loans – Economic Need Determinations

***Update*** On April 28, Treasury Secretary Steven Mnuchin announced that the SBA will do a full review of any loan more than $2,000,000 under the PPP program. He also warned of criminal liability for borrowers who...more

COVID-19: Congress Approves Interim Emergency Relief Package

On Friday, April 24, 2020, President Trump signed another emergency relief package (CARES Act II) totaling close to $500 billion, the bulk of which will go toward replenishing the Paycheck Protection Program (PPP). ...more

COVID-19: SBA Issues New Guidance: Ineligibility of Partners and Members to Apply for PPP Loans Individually

On April 14, 2020, the Small Business Administration (SBA) issued a Second Interim Final Rule, providing guidance for individuals with self-employment income who file a Form 1040, Schedule C. ...more

Federal: SBA Issues Guidance on Paycheck Protection Program - UPDATE

The Small Business Administration (SBA) and U.S. Treasury have once again updated their Frequently Asked Questions (FAQs), revising their April 6 guidance for borrowers and lenders. The SBA has made it clear that the U.S....more

COVID-19: Main Street Loan Facilities

INTRODUCTION - If your business did not meet the size limitations of the Paycheck Protection Program (PPP) there are facilities being developed for larger businesses (although they are also available for firms with PPP...more

Federal: SBA Issues Guidance on Paycheck Protection Program UPDATE

Rules and provisions for COVID-19 stimulus packages are rapidly evolving, and the measures and interpretations described here may change. This analysis represents our best interpretation and recommendations based on where...more

COVID-19: Federal Programs Guide and State Business Assistance Programs

States Covered: Maine, Massachusetts, New Hampshire, and Rhode Island - FEDERAL PROGRAMS - In response to the unprecedented disruption caused by the COVID-19 pandemic and public health efforts to fight the virus, federal...more

Guide to Navigating COVID-19 Federal Business Relief Programs

This is a guide intended to assist small, middle market and larger businesses in navigating the landscape of federal financing programs. ...more

COVID-19: Paycheck Protection Program: Is this the solution you have been waiting for?

The $2.2 trillion coronavirus stimulus bill enacted by Congress on March 27 provides immediate cash assistance to small businesses that keep their employees or recall employees they have furloughed or laid off due to...more

COVID-19 Federal: SBA Issues Guidance on Paycheck Protection Program

On April 2, 2020, the Small Business Administration (SBA) issued the much-anticipated Paycheck Protection Program Interim Final Rule, providing guidance on the implementation of the Paycheck Protection Program (PPP) and on...more

COVID-19: Fed Proposes “Main Street Business Lending Program”

The Federal Reserve Bank (FRB) is taking unprecedented steps to aid businesses during the disruption caused by the COVID-19 pandemic. The proposed “Main Street Business Lending Program” is intended to provide relief to what...more

Proposed Legislation - COVID-19 CARES Act: Coronavirus Aid, Relief, and Economic Security Act

On March 25, 2020, U.S. Senate negotiators and the Trump Administration reached agreement on the CARES Act, a $2 trillion stimulus package that would be the third phase of the federal government's response to the COVID-19...more

COVID-19: SBA Loan Program Approved for Small Businesses Nationwide

The Small Business Administration (SBA) provides low-interest long-term loans to small businesses in the event of a disaster. Since the COVID-19 pandemic has been declared a disaster, small businesses are now able to access,...more

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