What happens to Paycheck Protection Program (“PPP’) forgiveness amounts if the borrower lays off an employee and then offers to rehire the employee, but the employee declines the offer?...more
A rule change released by the Treasury Department will allow seasonal businesses to choose a different 12-week expense period when applying for a Paycheck Protection Program (“PPP”) loan under the CARES Act — a period that...more
Disbursement of PPP Loan Proceeds -
Questions persist regarding how loans under the Paycheck Protection Program (“PPP”) are to be funded by lenders. Specifically, some Borrowers have sought multiple draws hoping to achieve...more
Following criticism that large restaurant chains were able to obtain funds before the loan program had been depleted - seemingly shutting out much smaller restaurants - Shake Shack has publicly announced that it is returning...more
4/23/2020
/ Borrowers ,
Certifications ,
Eligibility ,
Franchises ,
Good Faith ,
Midsize and Large Business Loans ,
New Guidance ,
Paycheck Protection Program (PPP) ,
Publicly-Traded Companies ,
Restaurant Industry ,
Returned Funds ,
Safe Harbors ,
SBA
SBA issues interim final rule -
Confronted with loud dissension from the lending community on the eve of the program’s launch, including an email notice from the largest U.S. bank, JP Morgan Chase to its customers on April...more
April 3, 2020:
SBA Issued Interim Final Rule On Thursday, April 2 To Facilitate The Implementation Of The Paycheck Protection Program....more
With information concerning the Coronavirus (COVID-19) rapidly evolving, DRM is committed to providing you relevant and timely guidance on how to navigate this challenging time....more
4/3/2020
/ Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Families First Coronavirus Response Act (FFCRA) ,
Family and Medical Leave Act (FMLA) ,
Federal Loans ,
Filing Deadlines ,
Financial Stimulus ,
Intellectual Property Protection ,
Operators of Essential Services ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Shelter-In-Place ,
Sick Pay ,
Small Business ,
USPTO