In response to the continued market disruption and economic impact of the COVID-19 pandemic, Congress passed the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act, or the Act, on December 21, 2020 as a part...more
All applicants for Paycheck Protection Program (PPP) loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act were required to certify in good faith that current economic uncertainty made the PPP loan...more
The Small Business Administration (SBA) issued a new interim final rule (IFR) for the Paycheck Protection Program (PPP) under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) yesterday....more
The SBA has released an updated loan forgiveness application and instructions for the Paycheck Protection Program (“PPP”) to account for certain changes made in the Paycheck Protection Program Flexibility Act of 2020 (the...more
Last night the Senate passed the Paycheck Protection Program Flexibility Act of 2020 (the “Act”) that is expected to be signed into law by President Trump today. ...more
Paycheck Protection Program Loan Forgiveness Application - The SBA’s form Loan Forgiveness Application was released Friday, May 15, 2020. As was the case with the PPP application, each lender may use their own version of the...more
The SBA issued an additional FAQ #46, providing guidance on how it will review the required good faith certification that current economic uncertainty make the PPP loan necessary to support ongoing operations, which we refer...more
Late last night the SBA released two new FAQs, one of which extends the deadline for the safe harbor previously set forth in FAQ #31 from May 7, 2020 to May 14, 2020, and another that seeks to address counting employees of...more
In response to the economic crisis caused by the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, was signed into law and dedicated $349 billion to the Paycheck Protection Program, or...more
On Tuesday, April 21, 2020, the Senate approved $310 billion in additional funding for the Payroll Protection Program (the “PPP”). This increases the PPP’s original funding cap, which ran out last week. The House is expected...more
The SBA released a supplemental interim final rule today to provide further guidance for individuals applying to the Paycheck Protection Program (PPP), the cornerstone small business lending program under the Coronavirus Aid,...more
On Friday, April 3, 2020, eligible lenders began accepting applications for loans under the $349 billion Paycheck Protection Program, the cornerstone lending program under the Coronavirus Aid, Relief, and Economic Security...more
The SBA added to its FAQ on the Paycheck Protection Program to provide clarity on certain issues on April 6. It should offer comfort to lenders in particular, who were struggling to interpret some of these issues and worried...more
With lenders set to begin processing applications today, April 3, 2020 for the $349 billion Paycheck Protection Program (the PPP) established under the Coronavirus Aid, Relief and Economic Security Act (the CARES Act), the...more
Note: This alert concerns legislation and related agency guidance issued in the last several days regarding urgent government financial assistance relating to the COVID-19 pandemic.
On March 27, 2020, Congress Enacted the...more
In light of the severe market disruption and economic impact of the COVID-19 pandemic, we are monitoring the government’s response and communicating with companies any relief that may be helpful to manage their business in...more
4/1/2020
/ Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Relief
Opportunities Under the CARES Act for Employers, Including Those in the Hospitality Industry
Retention Payroll Tax Credits, Delayed Payroll Taxes
Special Loan Eligibility Rules for Employers in Accommodations and Food &...more
3/31/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Credit Facilities ,
Delays ,
Direct Lending ,
Economic Injury Disaster Loans ,
ESOP ,
Hospitality Industry ,
Paycheck Protection Program (PPP) ,
SBA ,
SBA Lending Programs ,
Small Business ,
Subsidies ,
Tax Credits ,
U.S. Treasury ,
Webinars