News & Analysis as of

Affiliated-Business Arrangements Relief Measures

Proskauer Rose LLP

SBA Expands COVID Disaster Loans

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Effective September 8, 2021, the U.S. Small Business Administration (“SBA”) significantly expanded the ability of small businesses to apply for low-interest loans through the revised COVID Economic Injury Disaster Loan...more

Lowenstein Sandler LLP

Paycheck Protection Program: FAQs for Small Businesses

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We have been sharing client alerts about the Small Business Administration (“SBA”) Paycheck Protection Program (“PPP”) created by the CARES Act.  Below are some frequently asked questions and answers with respect to the PPP...more

Proskauer Rose LLP

Paycheck Protection Program – Where Are We Now? An Up-To-Date Guide to the Paycheck Protection Program (Updated)

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Since the enactment of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020, the U.S. Small Business Administration (the “SBA”) and the U.S. Treasury Department (“Treasury”) have issued a...more

Neal, Gerber & Eisenberg LLP

SBA Issues Interim Final Rule Capping Aggregate PPP Loan Amounts at $20M for Single Corporate Groups

The Small Business Administration (SBA) recently released additional guidance that businesses that are part of a single corporate group shall in no event receive more than $20 million of Paycheck Protection Program (PPP)...more

Seyfarth Shaw LLP

Update: Paycheck Protection Program and Health Care Enhancement Act Increases Funds Available to Hospitals and Health Care...

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On April 24, 2020, the Paycheck Protection Program and Health Care Enhancement Act was signed into law, appropriating $75 billion for hospitals and other eligible health care providers for health care related expenses or lost...more

Cozen O'Connor

SBA Issues Additional Guidance On Affiliation Rules Under The Paycheck Protection Program

Cozen O'Connor on

As previously reported, the Small Business Administration (SBA), in consultation with the Department of Treasury, has separately issued an interim rule on its affiliation rules and Frequently Asked Questions (FAQs) on the...more

Chambliss, Bahner & Stophel, P.C.

Small Business Financial Relief Through the Paycheck Protection Program

The CARES Act provides $350 billion to the Paycheck Protection Program to allow the Small Business Administration (SBA) to guarantee 100% loans (with interest rates not to exceed 4%) made by local SBA preferred lenders to...more

Perkins Coie

Business Immigration Considerations During the COVID-19 Pandemic

Perkins Coie on

Companies affected by COVID-19 must carefully consider immigration implications for all foreign national and expat employees, including issues of immigration compliance. Those businesses with employees working in the United...more

Harris Beach PLLC

Integrity and Oversight Processes in CARES Act Warrant Careful Review

Harris Beach PLLC on

The COVID-19 crisis has spurred unprecedented government action on multiple fronts, including the passage of the Coronavirus Aid, Relief, and Economic Security legislation (the “CARES Act”). The legislation is...more

Perkins Coie

Congress Opens Streamlined Reorganization Process to More Debtors

Perkins Coie on

An important improvement aimed at ensuring a faster, less expensive, and more tailored approach to reorganizations involving smaller businesses was embedded in the recent $2 trillion recovery package known as the Coronavirus...more

Morgan Lewis

Nonprofits: CARES Act Offers COVID-19 Relief, But Requirements Can Be Complex

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The Coronavirus Aid, Relief and Economic Security (CARES) Act provides economic relief to organizations, including nonprofits, facing financial challenges as a result of the coronavirus (COVID-19) pandemic....more

Nutter McClennen & Fish LLP

Steps Private Equity and Venture Capital-Backed Companies Should Consider Taking for PPP Eligibility

Despite assertions from Congressional leaders on both sides of the aisle that the affiliation rules would be waived for applicants with outside minority investors, additional SBA guidance only provided relief for faith-based...more

Neal, Gerber & Eisenberg LLP

Client Alert: Requirements and Considerations for Payroll Protection Program Loans

The Coronavirus Aid, Relief, and Economic Security (CARES) Act is the most ambitious of numerous federal, state and local efforts to aid individuals and small businesses adversely affected by COVID-19. We previously...more

Shook, Hardy & Bacon L.L.P.

COVID-19 Client Primer | Paycheck Protection Program

The Paycheck Protection Program Under the CARES Act Title I of the recently enacted CARES Act provides for the Small Business Administration’s (SBA’s) Paycheck Protection Program (PPP) to assist eligible borrowers with loans...more

Pillsbury Winthrop Shaw Pittman LLP

CARES Act and FFCRA Revenue Stream Options for Nonprofit Organizations

Depending on size and tax-exemption status, nonprofit organizations may be eligible for federal relief. Nonprofit organizations can qualify for financial relief under certain provisions of the CARES Act, which is designed to...more

Perkins Coie

Small Business Loans and the CARES Act: What PE and VC Investors Need to Know About the SBA’s Affiliation Rules

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A key feature of the nearly $2 trillion economic stimulus bill signed into law on March 27, 2020, is the creation of a $350 billion “Paycheck Protection Program” (PPP) to authorize loans to businesses affected by the COVID-19...more

King & Spalding

CMS Issues Broad Blanket Waivers of Stark Law Sanctions for COVID-19 Purposes

King & Spalding on

On March 30, 2020, CMS issued blanket waivers of sanctions under the Federal physician self-referral law (the Stark Law) for purposes of responding to the COVID-19 pandemic (Stark Waivers or Waivers). The Stark Waivers,...more

Lewitt Hackman

Frequently Asked Questions Regarding the Paycheck Protection Program

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As of April 2, 2020 On March 27, 2020, Congress passed and the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), which is an approximately $2 trillion stimulus and economic relief...more

Foley & Lardner LLP

Applying for a CARES Act Loan? Take Three Simple Steps Now to Avoid Government Scrutiny Later

Foley & Lardner LLP on

The COVID-19 virus crush is upon us at this moment. Like in 2008 with TARP, the government has invited businesses around the country to apply for CARES Act relief to help survive this pandemic...more

Buchalter

Buchalter Client Alert COVID 19: Treasury Department Releases Answers to the Paycheck Protection Program Loans Frequently Asked...

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The Treasury Department has recently published the Paycheck Protection Program Loans Frequently Asked Questions (PPP FAQs). The Treasury Department’s publication provides businesses and lenders desperate guidance related to...more

ArentFox Schiff

No Change To PPP for Dealers Submitting with Franchise Identifier Codes

ArentFox Schiff on

The SBA has released additional guidance regarding the application of certain affiliate rules applicable to the PPP. Any dealership with 500 or fewer employees is eligible to apply for a PPP loan. However, even if you are a...more

Foley Hoag LLP

The U.S. Small Business Administration Releases Additional Paycheck Protection Guidance

Foley Hoag LLP on

On April 6, 2020, the U.S. Small Business Administration (the “SBA”), in consultation with the Department of Treasury, issued a frequently asked questions page (the “FAQs”) as additional guidance on the implementation...more

Mayer Brown

SBA Issues New Official FAQs for the Paycheck Protection Program (PPP) Addressing Borrower Eligibility, Affiliation, Underwriting,...

Mayer Brown on

The SBA’s Paycheck Protection Program, a $349 billion loan guaranty program established by the CARES Act to provide deferrable, forgivable loans up to $10 million to small business owners addressed in more detail in prior...more

Moritt Hock & Hamroff LLP

Update: U.S. Department Of The Treasury Releases Paycheck Protection Program Loan Application & Guidance Sheets

On March 27, 2020, the President signed the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) into law providing, among other relief, up to $349,000,000 to fund loans to small businesses affected by the...more

Robinson & Cole LLP

U.S. Small Business Administration Affiliation Rules and Their Application to the Payroll Protection Program

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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

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