RECENT DEVELOPMENTS -
October 20, 2020: Vermont’s Governor Phil Scott announced a new round of economic recovery grants for Vermont businesses, to be administered by the Vermont Agency of Commerce and Community...more
The SBA will begin accepting PPP forgiveness applications from lenders on August 10, subject to extension if any new legislative amendments to the forgiveness process are adopted....more
A new bill is now pending in the Senate which enhances lender protections and facilitates forgiveness for those PPP borrowers receiving PPP loans of less than $150,000. Proponents of the legislation have explained that the...more
The U.S. Small Business Administration (“SBA”) has just issued a new interim final rule that addresses a number of issues related to the Paycheck Protection Program (“PPP”) created by the Coronavirus Aid, Relief, and Economic...more
When the Paycheck Protection Program (“PPP”) first was launched, the SBA portal was available to small businesses that could evidence loan application amounts based upon documented payrolls. ...more
On June 10, 2020, the Small Business Administration (“SBA”) released Business Loan Program Temporary Changes; Paycheck Protection Program – Revisions to First Interim Final Rule....more
6/17/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Federal Loans ,
Financial Stimulus ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Relief Measures ,
SBA ,
SBA Lending Programs
Earlier today, voting by proxy, the House voted 417-1 to approve legislation known as the Paycheck Protection Program Flexibility Act, giving small business owners greater flexibility to spend their PPP loan proceeds and...more
For businesses that received a loan through the Paycheck Protection Program (PPP), the rules are still being refined, regulations continue to evolve and new guidance continues to be published. Despite the rapidly evolving...more
5/28/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Documentation ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Payroll Expenses ,
Relief Measures ,
Small Business ,
Small Business Loans ,
Tax Deductions ,
Wage and Hour
While much of the rules duplicate what is found in the PPP loan forgiveness application and instructions, there are some significant new items of guidance. The first of these Interim Final Rules addresses the requirements and...more
RECENT DEVELOPMENTS -
May 20, 2020: Vermont Governor Phil Scott announced a $400 million economic relief and recovery package for Vermont. The proposed package is funded by the $1.25 billion Vermont received from Federal...more
5/22/2020
/ CARES Act ,
Economic Injury Disaster Loans ,
Eviction ,
Federal Funding ,
Financial Assistance Policies ,
Foreclosure ,
Government Assistance ,
Governor Scott ,
Relief Measures ,
Rental Assistance Programs ,
State Grants
A rule change released by the Treasury Department will allow seasonal businesses to choose a different 12-week expense period when applying for a Paycheck Protection Program (“PPP”) loan under the CARES Act — a period that...more
SBA issues interim final rule -
Confronted with loud dissension from the lending community on the eve of the program’s launch, including an email notice from the largest U.S. bank, JP Morgan Chase to its customers on April...more
April 3, 2020:
SBA Issued Interim Final Rule On Thursday, April 2 To Facilitate The Implementation Of The Paycheck Protection Program....more
With information concerning the Coronavirus (COVID-19) rapidly evolving, DRM is committed to providing you relevant and timely guidance on how to navigate this challenging time....more
4/3/2020
/ Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Families First Coronavirus Response Act (FFCRA) ,
Family and Medical Leave Act (FMLA) ,
Federal Loans ,
Filing Deadlines ,
Financial Stimulus ,
Intellectual Property Protection ,
Operators of Essential Services ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Shelter-In-Place ,
Sick Pay ,
Small Business ,
USPTO
Keep your business in the know during the COVID-19 outbreak.
With information concerning the Coronavirus (COVID-19) rapidly evolving, DRM is committed to providing you relevant and timely guidance on how to navigate this...more
3/31/2020
/ Business Closures ,
Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Cybersecurity ,
Executive Orders ,
Families First Coronavirus Response Act (FFCRA) ,
Family and Medical Leave Act (FMLA) ,
Federal Loans ,
Financial Stimulus ,
Force Majeure Clause ,
Intellectual Property Protection ,
Operators of Essential Services ,
Relief Measures ,
Restaurant Industry ,
Shelter-In-Place ,
Sick Pay ,
State and Local Government ,
Tax Credits ,
Trump Administration