Paycheck Protection Program (PPP) loans were designed to help small businesses cover explicit allowable expenses during the COVID-19 pandemic. There are various eligibility requirements that businesses must satisfy before...more
4/22/2021
/ Business Expenses ,
CARES Act ,
China ,
Civil Liability ,
Coronavirus/COVID-19 ,
Full-Time Employees ,
Good Faith ,
Independent Contractors ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Payroll Expenses ,
SBA
The $900 billion Consolidated Appropriations Act of 2021 (the Act) modifies the Paycheck Protection Program (PPP) in a variety of business-friendly ways likely to benefit both existing PPP borrowers and businesses that...more
In its massive new pandemic relief and stimulus package, Congress has significantly modified the Paycheck Protection Program (PPP) to allow for second draws from the program, to simplify the loan forgiveness process, to...more
The now-operational Main Street Lending Program (MSLP) provides opportunities for low-interest, federally subsidized loans for businesses with 15,000 or fewer employees and up to $5 billion in revenue in 2019. However,...more
On Monday, June 8, 2020, the Federal Reserve Board announced changes to the Main Street Lending Program intended to allow a greater number of small and medium sized businesses to participate in the program. The Federal...more
On June 3, 2020, the Senate unanimously approved H.R., 7010, the Paycheck Protection Program Flexibility Act of 2020, or Flex Act, modifying certain provisions of the CARES Act relating to loan forgiveness under the Paycheck...more
The Federal Reserve anticipates accepting applications under the Main Street Lending Programs in June and has implied recently that the rollout is imminent. On May 27, 2020, the Federal Reserve Bank of Boston (FRBB) clarified...more
The Small Business Administration (SBA) issued guidance on April 3, 2020, about Affiliation Rules applicable to the U.S. Small Business Administration Paycheck Protection Program (PPP), part of the Coronavirus Aid, Relief and...more
With Coronavirus Aid, Relief and Economic Security Act (CARES Act) now law, the following is intended to be helpful summary for small businesses evaluating which Small Business Administration (SBA) loan program – the Economic...more
3/30/2020
/ Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Corporate Counsel ,
Economic Injury Disaster Loans ,
Federal Loans ,
Financial Stimulus ,
NAICS ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Exempt Entities ,
Tax Relief
The U.S. Small Business Administration has made Economic Injury Disaster Loans of up to $2 million available to qualifying small businesses that have suffered substantial economic injury from the COVID-19 pandemic.
Because...more
A Tennessee District Court recently ruled in Wachter Inc. v. Cabling Innovations, LLC, 3:18-cv-00488 (W.D. Tenn. May 7, 2019) that two former employees with permitted access to company computers were not liable under the...more