Beyond Hospice: And They’re Off! The OIG’s Nationwide Review of Hospice Eligibility Has Begun
Podcast: Non-binding Guidance: Breakthrough Devices Program
The Employee Retention Tax Credit (“ERC”), enacted as a part of the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), is a fully refundable tax credit for employers, which is up to $26,000 per eligible...more
On September 16, 2021, the U.S. Small Business Administration (“SBA”) issued an Interim Final Rule (the “Borrower Appeal Rule”) detailing the (largely technical) procedures for a Paycheck Protection Program (“PPP”) borrower...more
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
It is no secret that the restaurant industry has been one of the harder-hits of the COVID-19 pandemic. With government shutdowns, limits on hours, restricted operations, and social distancing requirements,...more
The U.S. Small Business Administration (SBA) issued guidance on the recently issued “Loan Necessity Questionnaire” (SBA Form 3509/3510). Lenders must require Paycheck Protection Program (PPP) borrowers to complete the...more
The Federal Reserve Bank of Boston announced on July 6, 2020, that the Main Street Lending Program (“Main Street Program” or “Program”) is now fully operational and ready to purchase participation in eligible loans that are...more
IN BRIEF - • The current economic decline caused by the COVID-19 pandemic will result in a surge of debtors in need of bankruptcy protection. • Subchapter V to the rescue! Despite some burdens on debtors, the advantages...more
On August 11, the SBA issued an Interim Final Rule regarding the appeal of SBA loan review decisions made under the Paycheck Protection Program (“PPP”). The Interim Final Rule is immediately effective, and while many lenders...more
The CARES Act’s Paycheck Protection Program provides loans targeted to small businesses to help keep their workers employed during the coronavirus (COVID-19) pandemic, and offers loan forgiveness to borrowers maintaining a...more
In Loan Guaranty Circular 26-20-25, dated June 30, 2020, the U.S. Department of Veterans Affairs (VA) addresses the effect of a CARES Act forbearance, or some other COVID-19 credit relief, on the eligibility of a veteran for...more
On 4/15/20, the SBA and the U.S. Department of the Treasury released an application form for Paycheck Protection Program (PPP) loan forgiveness along with instructions for completing the form. ...more
Section 1102 of the CARES Act creates the Paycheck Protection Program (PPP), which is intended to provide funds for small businesses affected by COVID-19 to maintain their workforce. ...more
On Friday evening, the Small Business Administration (“SBA”) and Treasury published the long-awaited Paycheck Protection Program (“PPP”) Loan Forgiveness Application. The form also provides for an Alternative Payroll Covered...more
In response to public criticism regarding the disbursement of loans to larger companies, on April 23, the Small Business Administration (SBA) issued guidance stressing that Paycheck Protection Program (PPP) loan applicants...more
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 package....more
If your business was deemed “ineligible” for a Paycheck Protection Program (PPP) loan by your lender or the Small Business Administration (SBA) or you didn’t apply for a PPP loan for your business, because you believed your...more
Two recent sets of guidance affecting employers’ operations of employee benefit plans have been issued by the Internal Revenue Service (the IRS) and the Department of Labor (the DOL). ...more
The Federal Reserve Board on Thursday announced it is expanding the scope and eligibility for the Main Street Lending Program, the $600 billion program of financial assistance to small and medium-sized businesses authorized...more
On April 30, 2020, following a period of public comment, the Federal Reserve Board (“Fed”) published additional guidance and revisions to its Main Street Lending Program (the “Main Street Program”), expanding the program’s...more
***Update*** On April 28, Treasury Secretary Steven Mnuchin announced that the SBA will do a full review of any loan more than $2,000,000 under the PPP program. He also warned of criminal liability for borrowers who...more
The Small Business Administration emphasizes that businesses who participate in the Paycheck Protection Program must make a good faith certification that the loan request is “necessary” to support ongoing operations due to...more
A number of public companies applied for and received potentially forgivable loans under the Paycheck Protection Program (PPP). To be eligible for a PPP loan a borrower does not need to demonstrate that it is unable to obtain...more
In FAQ #31 posted on April 23, 2020, the US Small Business Administration offered the following clarification (italics added): 31. Question: Do businesses owned by large companies with adequate sources of liquidity to...more
Three members of the JANI-KING® franchise system filed suit last week in federal court in Washington, D.C. alleging that the United States Small Business Administration (the SBA) has discriminated against franchised...more
Emergency COVID-19 relief legislation signed into law by President Trump, including the Coronavirus Aid, Recovery, and Economic Security Act (“CARES Act”), has allocated more than $2 trillion in economic aid to individuals,...more