Previously we reported on the various types of loan relief available under the Coronavirus Aid, Relief, and Economic Security (CARES) Act signed into law on March 27, 2020....more
On April 9, 2020, the Federal Reserve announced its Main Street Lending Program (MSLP), which in its initial form consisted of two facilities through which the Federal Reserve would purchase participations in loans that met...more
Following the release of the second round of Paycheck Protection Program (PPP) funding, the Small Business Administration (SBA) posted several updates related to the PPP. ...more
On April 24, 2020, following a string of interim final rules and updates to the Paycheck Protection Program (PPP) frequently asked questions (FAQ), the Small Business Administration (SBA) posted yet another interim final...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
4/25/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Eligibility Determination ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Publicly-Traded Companies ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business
With lending now underway under the well-known Paycheck Protection Program (PPP) established under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) aimed at providing COVID-19 relief to small and medium...more
Needless to say, the last few weeks have been utterly chaotic for employers. Aside from dealing with the existential threat of a 100-year pandemic and the confusion around the Families First Coronavirus Response Act, small...more
On the night of April 6, 2020, the Small Business Administration (SBA) and the Department of the Treasury released answers to updated Frequently Asked Questions (FAQs) relating to the Paycheck Protection Program (PPP) on the...more
4/8/2020
/ Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Corporate Counsel ,
Economic Injury Disaster Loans ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Relief
Following last Friday’s passing of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), businesses are eager to obtain much-needed relief, but there are uncertainties about which forms of relief are available...more
4/7/2020
/ Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Relief
To aid and address the effects of the coronavirus pandemic in the U.S., on Friday, March 27, 2020, Congress passed and the president quickly signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act into law....more
4/5/2020
/ Business Interruption ,
CARES Act ,
Commercial Bankruptcy ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business
In addition to providing relief to individuals, employees, small and non-small businesses, the Coronavirus Aid, Relief, and Economic Security (CARES) Act also mobilizes government and government contractors to address the...more
The coronavirus (COVID-19) first emerged as a serious health situation at the end of 2019. At the time of this writing, the World Health Organization (WHO) reports that more than 170 countries have confirmed cases of...more