Last year, self-employed individuals who conducted their business without any employees could qualify for a Paycheck Protection Program (PPP) loan in an amount equal to approximately 20.8% (2.5 months divided by 12 months) of...more
3/25/2021
/ Borrowers ,
Consolidated Appropriations Act (CAA) ,
Default ,
Independent Contractors ,
Interim Final Rules (IFR) ,
IRS ,
ITIN ,
NAICS ,
Net Profits ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Safe Harbors ,
SBA ,
Self Employed ,
U.S. Treasury
The window for the Main Street Loan Program (“Main Street Program”), designed to provide loans with favorable terms to midsize companies to help address the economic fallout caused by the pandemic, is closing on December 31,...more
11/23/2020
/ Corporate Counsel ,
EBITDA ,
Federal Reserve ,
Main Street Expanded Loan Facility ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Main Street Priority Loan Facility ,
Paycheck Protection Program (PPP) ,
SBA ,
Small Business ,
SPVs ,
U.S. Treasury
Congress is proposing much-needed relief for restaurants devastated by the COVID-19 pandemic. The foodservice industry employs 10% of the U.S. workforce, and forced closures of restaurants have had a ripple effect on farmers,...more
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