On May 5, 2020, the Small Business Administration (“SBA”) issued a new set of frequently asked questions (“FAQs”) concerning Paycheck Protection Program (“PPP”) loans. The new FAQs add guidance regarding the good faith...more
The federal government has committed $670 billion dollars in forgivable loans to small businesses under the Paycheck Protection Program (“PPP”), which was part of the Coronavirus Aid, Relief, and Economic Stability Act (the...more
The ongoing COVID-19 pandemic has precipitated an economic slowdown not seen in over a decade. In response, the federal government has enacted the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), taking...more
Since April 3, 2020, the Small Business Administration (SBA) has approved more than 100,000 small business applicants for the new Paycheck Protection Program (PPP) loans. Despite the high number of approved applicants, few...more
The New Jersey Economic Development Authority (“NJEDA”) has recently announced a series of economic relief packages to help small businesses in the state. Earlier last week, NJEDA launched its Small Business Emergency...more
Relief for mid-sized businesses covered in Title IV of the CARES Act has been overshadowed by discussions of that provided for small businesses. This alert covers relief available to businesses and non-profit organizations...more
The $349 billion Payment Protection Program (PPP) established by Title I of the Coronavirus Aid, Relief, and Economic Stability Act (CARES Act) is intended to help small businesses sustain themselves and keep their workers...more
Information regarding the affiliate rules that can impact access to the Small Business Administration (SBA) Paycheck Protection Program (PPP) under the CARES Act for our venture capital-backed clients is complex. Although...more