Recent bankruptcy court decisions in In re Hidalgo and In re Cosi Inc. indicate that courts are split on whether the U.S. Small Business Administration (SBA) and participating lenders can deny Paycheck Protection Program...more
In addition to the programs established and the powers granted as part of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), the Treasury Department and Federal Reserve Board of Governors are leveraging...more
The Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) expanded the existing Economic Injury Disaster Loan program (“EIDL”) by streamlining the application process and providing lower interest rates and longer...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
Under the U.S. Small Business Administration’s (“SBA”) Paycheck Protection Program (“PPP”), eligible small businesses may borrow up to 250% of their average monthly payroll costs from most banks and certain other SBA-approved...more