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
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
The COVID-19 related stimulus bill (Coronavirus Aid, Relief, and Economic Security Act or CARES Act) provides relief to the banking industry directly. The CARES Act authorizes guarantees of bank-issued debt and...more