The Small Business Administration issued an important update to its answers to frequently asked questions about the Paycheck Protection Program (PPP) on May 13, 2020:
Question: How will SBA review borrowers’ required...more
The Small Business Administration (SBA) updated its answers to frequently asked questions about the Paycheck Protection Program (PPP) on May 5, 2020, as follows:
Question: FAQ #31 reminded borrowers to review carefully the...more
On April 30, the Federal Reserve announced substantial changes to the initial terms of its Main Street Lending Program originally released on April 9, 2020:
After receiving over 2,200 comment letters and consulting with...more
5/5/2020
/ Borrowers ,
CARES Act ,
Commercially Reasonable Efforts ,
Coronavirus/COVID-19 ,
Federal Loans ,
Federal Reserve ,
Financial Stimulus ,
Lenders ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
SBA ,
SPVs ,
Term Sheets ,
U.S. Treasury
We recently reported on a series of Paycheck Protection Program (PPP) issues that uniquely impact government contractors. As we noted, particularly concerning for federal contractors is that agencies may seek credits or...more
In the last few days, the Small Business Administration (SBA) provided additional answers to frequently asked Paycheck Protection Program (PPP) questions and published yet another interim final rule on the administration of...more
On April 24, 2020, the Paycheck Protection Program and Health Care Enhancement Act was signed into law and provided an additional $310 billion for the Paycheck Protection Program (PPP). The Small Business Administration (SBA)...more
On April 23, 2020, the Small Business Administration (SBA) updated its Answers to Frequently Asked Questions about the Paycheck Protection Program (PPP). Among the most noteworthy updates is the following answer provided by...more
Many federal contractors have already taken advantage of the Paycheck Protection Program (PPP), which was established by the CARES Act to help small businesses and other eligible applicants survive the economic impact of the...more
On April 14, 2020, the Small Business Administration (SBA) posted an additional Interim Final Rule for the Paycheck Protection Program (PPP). This new Interim Final Rule functions as a supplement to the first PPP Interim...more
On April 9, 2020, the Federal Reserve announced a new “Main Street” Lending Program that will facilitate lending by banks and other financial institutions to mid-size businesses. The program is comprised of two separate...more
On April 7, 2020, the Small Business Administration (SBA) issued additional guidance on the Paycheck Protection Program (PPP) in the form of answers to frequently asked questions about the PPP. According to the new guidance,...more
In the wake of the COVID-19 pandemic response, government contractors have experienced varying degrees of work disruption. As highlighted recently by the Office of Management and Budget (OMB), “Federal contractors play a...more
As we discussed in a previous article, the Coronavirus Aid, Relief, and Economic Security Act, known as the “CARES Act,” provides much-needed relief to “small” businesses in several areas, including by appropriating...more
On March 18, 2020, President Donald Trump signed an Executive Order invoking and delegating the authorities of the Defense Production Act (DPA) to the secretary of the U.S. Department of Health and Human Services (HHS) to...more
In response to the COVID-19 pandemic, Congress recently passed, and President Trump signed, the Coronavirus Aid, Relief, and Economic Security Act, known as the CARES Act. Described in the media as the “largest emergency aid...more
With the challenges presented by the recent and rapid spread of COVID-19 in the United States, it is only a matter of time before the government begins terminating certain federal contracts for the convenience of the...more
NASA announced on March 17, 2020, that, “[e]ffective immediately, all [NASA] employees and contractors will move to mandatory telework until further notice” as a result of the COVID-19 (the coronavirus) pandemic, and that...more
Considering the recent and rapid spread of COVID-19 in the Unites States, government contractors need to be prepared now more than ever to comply with the unique paid sick leave obligations that apply to them. This article —...more
The U.S. Small Business Administration (SBA) recently announced that it is offering designated states and territories low-interest federal disaster loans “for working capital to small businesses suffering substantial economic...more
With the recent and rapid spread of COVID-19 in the United States, it is only a matter of time before government contractors experience contract-performance delays — whether ordered by the government or not — that inevitably...more
3/13/2020
/ Contract Terms ,
Coronavirus/COVID-19 ,
Delays ,
Emergency Management Plans ,
Federal Acquisition Regulations (FAR) ,
Federal Contractors ,
Performance Standards ,
Quarantine ,
State of Emergency ,
Subcontractors ,
Suspensions ,
Work Suspensions
A recent bid protest appeal decision by the U.S. Court of Appeals for the Federal Circuit — XOtech, LLC v. United States — provides clear guidance on what it means to “control” a service-disabled veteran-owned small business...more
A series of recent developments — including the Department of Justice’s (DOJ) formation of a Procurement Collusion Strike Force and report that “procurement fraud” recoveries comprised the second largest category of False...more
The U.S. Small Business Administration (SBA) recently published a list of frequently asked questions (with the SBA’s answers) about recent changes to the Historically Underutilized Business Zone (or HUBZone) program, which is...more
Family-owned businesses are often owned and controlled by family trusts. Trusts are used by families for estate planning, tax planning and asset protection. Family-owned government contractors with trust ownership structures...more
1/21/2020
/ Beneficial Owner ,
Disclosure Requirements ,
Estate Planning ,
False Claims Act (FCA) ,
Family Businesses ,
Family Trusts ,
Federal Acquisition Regulations (FAR) ,
Federal Contractors ,
Federal Procurement Systems ,
New Guidance ,
SAM ,
Tax Planning ,
Trusts
The Department of Justice (DOJ) recently announced that it obtained more than $3 billion in False Claims Act (FCA) settlements and judgments in the fiscal year ending Sept. 30, 2019.
Notably, DOJ reports that “matters that...more
1/13/2020
/ Anticompetitive Behavior ,
Defense Contracts ,
Department of Defense (DOD) ,
Department of Justice (DOJ) ,
False Claims Act (FCA) ,
Federal Contractors ,
Fraudulent Procurement ,
General Services Administration (GSA) ,
NASA ,
Settlement Agreements ,
USPS