The $1.9 trillion stimulus package, known as the American Rescue Package (the “Rescue Package”), enacted on March 11, 2021, established a $28.6 billion Restaurant Revitalization Fund (“Restaurant Fund”) for restaurants and...more
4/2/2021
/ American Rescue Plan Act of 2021 ,
Biden Administration ,
Business Expenses ,
CARES Act ,
Coronavirus/COVID-19 ,
Federal Grants ,
Financial Distress ,
Good Faith ,
Paid Sick Leave ,
Paycheck Protection Program (PPP) ,
Payroll Expenses ,
Relief Measures ,
Restaurant Industry ,
SBA ,
SBA Lending Programs
The SBA has provided a good faith necessity certification safe harbor for certain PPP borrowers with loans less than $2 million and also has limited PPP funds to $20 million for corporate groups...more
On April 23, 2020, the Small Business Administration (“SBA”) issued further guidance on the Paycheck Protection Program (“PPP”) by supplementing its Frequently Asked Questions (“FAQ”).
The supplement addresses one new...more
Late last month, the federal government committed $349 billion dollars in forgivable loans to small businesses under the Paycheck Protection Program (“PPP”), which was part of the Coronavirus Aid, Relief, and Economic...more
Here we clarify PPP eligibility requirements for independent contractors, sole proprietors and individuals with self-employment income, as well as additional guidance regarding partnerships and other issues.
On Tuesday,...more
The Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) expanded the existing Economic Injury Disaster Loan program (“EIDL”) by streamlining the application process and providing lower interest rates and longer...more