On December 27, 2020, the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act was signed into law as part of the Consolidated Appropriations Act, 2021 (the Act). The Act reopens the Paycheck Protection...more
The U.S. Small Business Administration (SBA) will require Paycheck Protection Program (PPP) lenders to issue “loan necessity” questionnaires to all borrowers of PPP loans of $2 million of more. On October 26, 2020, the SBA...more
On October 2, 2020, the U.S. Small Business Administration (SBA) released a Procedural Notice (the Procedural Notice) that provides a framework to determine whether SBA consent is required for various changes of ownership of...more
10/12/2020
/ CARES Act ,
Change of Ownership ,
Coronavirus/COVID-19 ,
Corporate Sales Transactions ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Regulatory Requirements ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business
On August 24, 2020, the U.S. Small Business Administration (SBA), in consultation with the Department of the Treasury (Treasury), released guidance with regard to the forgiveness of Paycheck Protection Program (PPP) loans in...more
A United States federal district court judge in the Southern District of New York struck down four regulations issued by the United States Department of Labor (DOL) limiting paid leave entitlements under the Families First...more
The Small Business Administration (SBA), in consultation with the Department of the Treasury (Treasury), recently released guidance with regard to the forgiveness of Paycheck Protection Program (PPP) loans in the form of...more
8/14/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Federal Loans ,
Financial Stimulus ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business
On June 5, 2020, the Paycheck Protection Program Flexibility Act of 2020 (Flexibility Act) was signed into law. The Flexibility Act provides important new flexibility to borrowers under the Paycheck Protection Program (PPP),...more
All applicants for a loan under the Paycheck Protection Program (PPP) must certify that the current “economic uncertainty” makes the loan request “necessary to support the ongoing operations” of the company. The Small...more
Robinson+Cole has been tracking government relief programs being offered to help alleviate the economic impact of COVID-19 on businesses in the United States. On March 27, 2020, the Coronavirus Aid, Relief and Economic...more
COVID-19 has rendered companies of all sizes in need of liquidity. However, the federal relief programs previously enacted have focused on small businesses or large companies, with mid-size companies often excluded from...more
Robinson+Cole has been tracking government relief programs being offered to help alleviate the economic impact of COVID-19 on businesses in the United States. On April 2, 2020, the U.S. Small Business Administration (SBA)...more
4/8/2020
/ Affiliated-Business Arrangements ,
Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Relief
On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (CARES Act) was signed into law. The CARES Act is designed to distribute capital quickly and broadly to help alleviate the economic impact of COVID-19,...more
Having been “inundated with questions from both state regulators and the regulated community about how to handle the current extraordinary situation,” the Environmental Protection Agency (EPA) recently announced a temporary...more
As the novel coronavirus (COVID-19) continues to sweep the nation, the "Families First Coronavirus Response Act" (FFCRA) was approved by Congress and signed into law by the President on March 18, 2020, in an attempt to...more
4/1/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
EFMLA ,
EPSLA ,
Families First Coronavirus Response Act (FFCRA) ,
Family and Medical Leave Act (FMLA) ,
Financial Stimulus ,
New Legislation ,
Relief Measures ,
Sick Leave ,
Sick Pay ,
Tax Credits ,
Trump Administration