After not taking action and allowing the 2020 foreclosure moratorium to expire on December 31, 2020 (“2020 Act”), the Oregon legislature took action in May to pass House Bill 2009 (the “2021 Act” or the “Act”), reinstating...more
6/10/2021
/ CARES Act ,
Commercial Property Owners ,
Coronavirus/COVID-19 ,
Executive Orders ,
Forbearance Agreements ,
Foreclosure ,
Governor Brown ,
Loss of Income ,
Moratorium ,
New Legislation ,
Notification Requirements ,
Oregon ,
Private Right of Action ,
Undue Hardship
Yesterday, President Joe Biden signed the $1.9 trillion American Rescue Plan Act of 2021 (Act), which includes new pandemic-relief grants for small and mid-sized restaurants and bars; expansion of the Paycheck Protection...more
3/15/2021
/ American Rescue Plan Act of 2021 ,
Business Expenses ,
Coronavirus/COVID-19 ,
Economic Aid Act ,
Economic Injury Disaster Loans ,
Employee Retention ,
Enforcement Actions ,
Entertainment Venues ,
Federal Grants ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
Restaurant Industry ,
SBA ,
Small Business ,
Tax Credits
On January 6, the Small Business Administration (SBA) issued its Interim Final Rule (IFR) for the original Paycheck Protection Program (PPP-1) to reflect changes to the program included in the recent Economic Aid to Hard-Hit...more
1/11/2021
/ Coronavirus/COVID-19 ,
Good Faith ,
Interim Final Rules (IFR) ,
New Guidance ,
Paycheck Protection Program (PPP) ,
Property Damage ,
Publicly-Traded Companies ,
Relief Measures ,
SBA ,
Small Business ,
Small Business Loans
On December 27, the Consolidated Appropriations Act of 2021 (the “Act”) was signed into law. This Act makes available $284 billion for second draw loans under the Paycheck Protection Program (“PPP-2”) and also makes important...more
12/30/2020
/ Borrowers ,
Certification Requirements ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Eligibility ,
Financial Stimulus ,
Loan Applications ,
Loan Forgiveness ,
Loans ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
Small Business
On August 31, 2020, pursuant to the option granted in HB 4204 (the “Act”) to extend the emergency period via executive order, Oregon Governor Kate Brown issued Executive Order No. 20-37 extending the emergency period covered...more
Oregon lawmakers held a three-day special legislative session in June during which they tackled, among other issues, legislation aimed at relief for both consumers and businesses impacted financially by the COVID-19 crisis....more
On May 15, the Small Business Administration (SBA) published its long-awaited Loan Forgiveness Application and Instructions for Borrowers (Application). The Application clarified certain forgiveness rules and calculations for...more
On April 9, the U.S. Federal Reserve provided details on $2.3 trillion of new loan programs that are made available under the CARES Act, including terms for the Main Street New Loan Facility and Main Street Expanded Loan...more
4/10/2020
/ CARES Act ,
Comment Period ,
Coronavirus/COVID-19 ,
Credit Facilities ,
Federal Reserve ,
Financial Stimulus ,
Main Street Lending Programs ,
Relief Measures ,
SBA ,
Special Purpose Vehicles ,
Term Sheets ,
U.S. Treasury
On April 3, the Small Business Administration (SBA) issued its Interim Final Rule (IFR) for the Paycheck Protection Program (PPP) just a few hours before borrowers were allowed to start submitting PPP loan applications to...more
4/6/2020
/ Borrowers ,
Business Closures ,
Business Interruption ,
CARES Act ,
Centers for Medicare & Medicaid Services (CMS) ,
Coronavirus/COVID-19 ,
Department of Health and Human Services (HHS) ,
Families First Coronavirus Response Act (FFCRA) ,
Federal Loans ,
Financial Stimulus ,
Lenders ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Securities and Exchange Commission (SEC) ,
Small Business ,
Tax Relief ,
Unemployment Insurance
Today, March 27, the United States House of Representatives passed the “Coronavirus Aid, Recovery and Economic Security Act” or the “CARES Act” (Act), which previously passed the United States Senate on March 25 and was...more