Within a few hours after its introduction on December 21, 2020 (and after months of partisan wrangling), the House of Representatives and the Senate overwhelmingly passed the first significant stimulus and relief legislation...more
The long seller’s market may be over, which is welcome news for many companies that are eager and able to acquire or expand a business.
Many businesses and business owners have struggled mightily under the COVID-19...more
7/30/2020
/ Acquisition Finance ,
Buyers ,
CARES Act ,
Coronavirus/COVID-19 ,
Due Diligence ,
Fraudulent Transfers ,
Insolvency ,
Letters of Intent ,
Liquidity ,
Main Street Lending Programs ,
Paycheck Protection Program (PPP) ,
Personal Protective Equipment ,
Social Distancing ,
Supply Chain ,
Warranty Insurance
On June 5, 2020, President Trump signed into law the Paycheck Protection Program Flexibility Act of 2020 (the “Flexibility Act”). The Flexibility Act amends key provisions of the Paycheck Protection Program (“PPP”)...more
Just a few weeks before the first Paycheck Protection Program (PPP) borrowers will become eligible to apply for forgiveness of their PPP loans, the US Small Business Administration (SBA) and the Department of the Treasury...more
The Board of Governors of the Federal Reserve System (the Fed) recently released terms for its Main Street Lending Program (MSLP), a program authorized under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act)...more
5/7/2020
/ Banks ,
CARES Act ,
Credit Unions ,
EBITDA ,
Federal Reserve ,
Federal Savings Associations ,
FFIEC ,
Loans ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Paycheck Protection Program (PPP) ,
Small Business
As we have previously observed, on April 23, 2020, the U.S. Small Business Administration (SBA) issued guidance—and a warning—to Paycheck Protection Program (PPP) loan applicants and borrowers related to the certification of...more
Many businesses have followed with interest the news of public companies like Shake Shack and Ruth’s Chris Steak House taking out multi-million-dollar Paycheck Protection Program (PPP) loans guaranteed by the U.S. Small...more
On the heels of the Paycheck Protection Program (PPP) Interim Final Rule issued on April 2, 2020, the Treasury Department and the Small Business Administration (SBA) released additional PPP guidelines in the form of FAQs on...more
On April 2, 2020, the Treasury Department and Small Business Administration (SBA) unveiled an interim final rule for the Payroll Protection Program (PPP) and a revised application form.
The terms of the loans have changed to...more
The CARES Act amends the Small Business Act to provide up to $349 billion in emergency Paycheck Protection Program loans and up to $10 billion in Economic Injury Disaster Loans, to small and medium-sized businesses and...more