This week the Small Business Administration (SBA) provided guidance on how the $28.6 billion Restaurant Revitalization Fund will work. The Restaurant Revitalization Fund provides for qualified restaurants and other food...more
4/26/2021
/ Business Closures ,
Business Expenses ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Federal Grants ,
Financial Distress ,
Paycheck Protection Program (PPP) ,
Payroll Expenses ,
Relief Measures ,
Restaurant Industry ,
SBA ,
Small Business
The $1.9 trillion stimulus package, known as the American Rescue Package (the “Rescue Package”), enacted on March 11, 2021, established a $28.6 billion Restaurant Revitalization Fund (“Restaurant Fund”) for restaurants and...more
4/2/2021
/ American Rescue Plan Act of 2021 ,
Biden Administration ,
Business Expenses ,
CARES Act ,
Coronavirus/COVID-19 ,
Federal Grants ,
Financial Distress ,
Good Faith ,
Paid Sick Leave ,
Paycheck Protection Program (PPP) ,
Payroll Expenses ,
Relief Measures ,
Restaurant Industry ,
SBA ,
SBA Lending Programs
The SBA has provided a good faith necessity certification safe harbor for certain PPP borrowers with loans less than $2 million and also has limited PPP funds to $20 million for corporate groups...more
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
Amidst the economic downturn that has accompanied the COVID-19 pandemic, small businesses have sought financial relief through the Small Business Administration’s (“SBA”) Paycheck Protection Program (“PPP”), which with its...more
On April 23, 2020, the Small Business Administration (“SBA”) issued further guidance on the Paycheck Protection Program (“PPP”) by supplementing its Frequently Asked Questions (“FAQ”).
The supplement addresses one new...more
On April 16, 2020, the Small Business Administration (SBA), less than two weeks after the activation of its Paycheck Protection Program (PPP), announced that funds for PPP loans had been completely depleted. An additional...more
Late last month, the federal government committed $349 billion dollars in forgivable loans to small businesses under the Paycheck Protection Program (“PPP”), which was part of the Coronavirus Aid, Relief, and Economic...more
Here we clarify PPP eligibility requirements for independent contractors, sole proprietors and individuals with self-employment income, as well as additional guidance regarding partnerships and other issues.
On Tuesday,...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 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
On March 31, 2020, the U.S. Small Business Administration (SBA) released the Paycheck Protection Program Application Form for use with the SBA Paycheck Protection Program (PPP) loans. Applications for PPP loans may be...more
On Friday, March 27, 2020, the President signed into law The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which provides up to $2 trillion to address the severe economic dislocation caused by the...more
In these unprecedented times of the COVID-19 pandemic and the resulting disruption of economic activity, we understand the imperative for the very survival of our clients and the business community at large in addressing...more