Congress has authorized a promising grant program for restaurants, bars, breweries, food trucks and caterers, with grants awarded based on the recipient’s decline in revenues during 2020. The Restaurant Revitalization Fund...more
Following intense negotiations in Washington, Congress has finally approved the latest federal stimulus package as part of the Consolidated Appropriations Act, 2021, which is pending the President’s signature as of December...more
12/23/2020
/ Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Families First Coronavirus Response Act (FFCRA) ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business
A new coronavirus relief package, which includes a second round of Paycheck Protection Program (“PPP”) funds, appears to be on the horizon. Details are still being worked out on the Hill, but here are some key updates and...more
If you were one of the thousands of small businesses who received a PPP loan in the initial wave of funding – or if you are still considering applying as part of the second wave – one of the key eligibility requirements for...more
The Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) authorizes $349 billion in forgivable Section 7(a) Small Business Administration (“SBA”) loans under the Paycheck Protection Program, to be issued by...more
The below information has been updated since it was originally published under the title “Congress Poised to Pass Massive Loan Program for Small Businesses – What You Need to Know”. We will release further updates as the SBA...more
4/2/2020
/ Business Closures ,
Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Financial Stimulus ,
Lenders ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Relief ,
Unemployment Insurance
The Coronavirus Aid, Relief and Economic Security Act authorizes $349 billion in forgivable Section 7(a) Small Business Administration (“SBA”) loans under the “Paycheck Protection Program”, to be issued by qualified SBA...more
4/2/2020
/ Affiliated-Business Arrangements ,
Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Federal Loans ,
Financial Stimulus ,
NAICS ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Relief
By now most banks have been alerted to the fact that a significant part of the Coronavirus Aid, Relief and Economic Security Act (“CARES ACT”), is comprised of the Paycheck Protection Program (PPP), which was signed in to law...more
The Senate passed H.R. 748, the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) late Wednesday, March 25, 2020. Among other stimulus relief, the CARES Act authorizes $349 billion in partially forgivable...more
The Small Business Administration’s Economic Injury Disaster Loan Program (EIDL) is providing up to $2 million in long-term disaster-relief loans to qualifying small businesses for economic injury suffered due to the COVID-19...more