The US Congress has passed a spending bill that includes $285 billion to extend and expand the Paycheck Protection Program, providing new first-time loans and adding second-draw loans to help support small businesses. ...more
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, among other economic stimulus measures, provides targeted relief to small businesses through its Paycheck Protection Program (PPP). The PPP and other government...more
The Small Business Administration on April 24 issued an update to an interim final rule, crystalizing its view that applicants that have sought protection under the US Bankruptcy Code are not qualified borrowers under the...more
6/26/2020
/ Bankruptcy Code ,
CARES Act ,
Commercial Bankruptcy ,
Coronavirus/COVID-19 ,
Debtors ,
Eligibility ,
Federal Loans ,
Financial Distress ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, among other economic stimulus measures, provides targeted relief to small businesses through its Paycheck Protection Program (PPP). The PPP and other government...more
6/3/2020
/ Acquisition Agreements ,
CARES Act ,
Contract Negotiations ,
Coronavirus/COVID-19 ,
Corporate Sales Transactions ,
Eligibility ,
Federal Loans ,
Merger Agreements ,
Paycheck Protection Program (PPP) ,
SBA Lending Programs ,
Small Business
The Small Business Administration on April 24 issued an update to an interim final rule, crystalizing its view that applicants that have sought protection under the US Bankruptcy Code are not qualified borrowers under the...more
4/28/2020
/ CARES Act ,
Commercial Bankruptcy ,
Coronavirus/COVID-19 ,
Debtors ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business
Both borrowers and lenders need to be aware of issues arising from a new US government loan program for small businesses relative to existing capital structures, although some guidance also is not yet available. Both...more