News & Analysis as of

Borrowers Trump Administration

Lowenstein Sandler LLP

Paycheck Protection Program: FAQs For Microbusinesses - UPDATED March 2021 #3

On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits and...more

McDermott Will & Emery

COVID-19 Stimulus Package Significantly Expands CARES Act Employee Retention Tax Credits

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The Consolidated Appropriations Act, 2021, which became law on December 27, 2020, makes significant changes to the employee retention tax credits available under the Coronavirus Aid, Relief and Economic Security Act (the...more

Schwabe, Williamson & Wyatt PC

Highlights of PPP Loan Items in the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act and 2021 Consolidated...

The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the “PPP2 Act”) is contained in the Consolidated Appropriations Act, 2021 (“2021 Appropriations Act”), a $900 billion, nearly 5,600-page bill passed...more

Weintraub Tobin

PPP Second Draw Loans

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In December 2020, President Trump signed into law the Consolidated Appropriations Act, 2021 (the CAA). In total, the CAA provides $900 billion in COVID relief, including $284 billion for additional Paycheck Protection...more

Schwabe, Williamson & Wyatt PC

Ten Things to Know About the PPP Loan Forgiveness Applications - Update #7

Below are ten important things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness ‎Applications and the detailed instructions for the applications posted on June 16, 2020, and October 8, 2020, ‎as well as...more

Wilson Sonsini Goodrich & Rosati

New Legislation Updates COVID-19-Related Tax Benefits and Credits

On December 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021 (the Act), which updates several previously enacted tax benefits and credits passed in response to COVID-19. In a much-anticipated change,...more

Bass, Berry & Sims PLC

Newly Enacted End of Year Legislation Has Impact on Healthcare Providers

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On December 27, President Trump signed into law the Consolidated Appropriations Act, 2021 (Act), which was passed by Congress the evening of December 21, after weeks of negotiation. The lengthy legislation, totaling in at...more

Bass, Berry & Sims PLC

COVID-19 Relief Bill – Extends Paycheck Protection Program and Creates Second Draw Loan Program

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On December 21, the United States Congress passed the Consolidated Appropriations Act, 2021, to fund annual appropriations and, through its “Additional Coronavirus Response and Relief” provisions, to supply a second round of...more

McDermott Will & Emery

COVID Relief Bill: Key PPP Eligibility Issues Loom Large for New and Second Draw Loans

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The COVID-19 relief bill opens the door to new aid for small businesses under the Paycheck Protection Program (PPP). This is welcome news to small businesses throughout the country, but—as detailed below—there are significant...more

Cole Schotz

Alert: Continuation And Expansion Of The Paycheck Protection Program

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Congress has reached a bi-partisan agreement on the Consolidated Appropriations Act of 2021 (the “Act”), which includes a supplemental relief package aimed at mitigating the continued economic impact of COVID-19 on American...more

Farrell Fritz, P.C.

Year-End Gifting Of Equity In A Business — With An Outstanding PPP Loan?

Farrell Fritz, P.C. on

“Annus Horribilis­”- Just over three weeks to go, then 2020 will be behind you. But don’t drop your guard just yet. Three weeks is a long time – plenty of time, in fact, for one more punch to the gut, another kick in the...more

Morgan Lewis - All Things FinReg

US Secretary of Education Implements Presidential Memorandum for Student Loan Payment Relief

As we discussed in a prior LawFlash, US President Donald Trump signed four executive actions that purportedly extend various aid measures for individuals impacted by the coronavirus (COVID-19) pandemic on August 8. One of...more

Burr & Forman

President, Congress Extend Application Period for PPP Loans

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On July 4, President Trump signed into law a bill extending the period during which borrowers can apply for paycheck protection program (“PPP”) loans from June 30 to August 8. The PPP loan program is part of the governmental...more

Jackson Walker

What's Next for the Paycheck Protection Program? by Lindsey Berwick and John Wittenberg

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While the deadline to apply for a Paycheck Protection Program (PPP) loan has passed, an August 8th extension is en route to President Trump for his signature. Since the program's implementation in April, the Small Business...more

Schwabe, Williamson & Wyatt PC

CARES Act Questions for the Technology Industry - Update #2

Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more

Moore & Van Allen PLLC

Forgiveness is Divine: Insight for PPP Borrowers to Maximize Loan Forgiveness - Update

Moore & Van Allen PLLC on

(April 30,2020; Updated May 8, 2020 and June 10, 2020 to Reflect FAQ #40 and Forgiveness Application, Interim Final Rule on Forgiveness and PPP Flexibility Act, respectively) As businesses that have received funds...more

UB Greensfelder LLP

The CARES Act Update – PPP Flexibility Act of 2020

UB Greensfelder LLP on

Late last week Congress approved and the President signed the Paycheck Protection Program Flexibility Act of 2020 (“Flexibility Act”). This new bill attempts to address some of the more troubling requirements when applying...more

Schwabe, Williamson & Wyatt PC

CARES Act Questions for the Manufacturing, Distribution and Retail Industry - Update #3

Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more

Foley Hoag LLP

Paycheck Protection Program Flexibility Act – Updates to the PPP

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On June 5, 2020, the President signed the Paycheck Protection Flexibility Act of 2020 (the “Act”), which modifies certain provisions of the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) enacted on March...more

Downey Brand LLP

Senate Passes Paycheck Protection Program Flexibility Act of 2020: What Small Businesses Can Expect

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In the wake of COVID-19, Congress enacted the Coronvairus Aid, Relief and Economic Security (“CARES”) Act which included the Paycheck Protection Program (“PPP”) designed to help businesses fund payroll and other critical...more

Robins Kaplan LLP

Financial Daily Dose 12.18.2019 | Top Story: Fiat Chrysler and Peugeot Boards Agree to $50 Billion Merger

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Fiat Chrysler and rival Peugeot have agreed to binding merger terms that, if approved by US and European regulators, would create a “$50 billion auto giant that would rank among the world’s largest car companies by sales”....more

Holland & Knight LLP

Regulatory Relief Act Benefits Community and Regional Banks

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• The Economic Growth, Regulatory Relief and Consumer Protection Act (the Act), which engendered substantial bipartisan support and was recently signed into law by President Donald Trump, amends parts of the Dodd-Frank Wall...more

Ruder Ware

Are Too Many Eggs in One Basket?

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In the last two weeks, 75 Wisconsin dairy farmers were notified by their dairy that it could not accept their milk. The dairy and its farmer suppliers are caught in a U.S.-Canada trade dispute over “ultra-filtered” milk....more

Skadden, Arps, Slate, Meagher & Flom LLP

"Oil and Gas Industry Seeks Steady Ground Following Year of Restructurings, Restrictive Lending"

Crude oil and natural gas prices reached multiyear lows of approximately $26 per barrel for crude oil (as of January 2016) and $1.50 per million British thermal units (mmbtu) for natural gas (as of March 2016). This...more

Cooley LLP

Alert: Presidential Transitions: A Primer on Rulemakings

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A smooth transition from the outgoing to incoming administration is a hallmark of democracy and something both parties strive to achieve. Among the myriad issues that must be addressed, one of the more important ones for both...more

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