Law Brief: CARES Act Relief for Small Businesses
Williams Mullen's COVID-19 Comeback Plan: Preparing Today for Tomorrow's PPP Audit
Monthly Minute | Financial Relief for COVID-19
WEBINAR: Is the CARES Act Caring Enough?
Nota Bene Episode 84: Organizational Integrity in the Post-Pandemic Enforcement Environment
Nota Bene Episode 83: Fraud Enforcement and Policing COVID Relief: What Businesses Need to Know with Chuck Kreindler
COVID-19: The FFCRA & CARES Act--Update on Loan Programs, Tax Provisions & Employee Leave Provisions
In March 2020 during the height of the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law establishing, among other things, the Payment Protection Program (PPP) administered...more
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
On December 28, 2020, President Trump signed the Consolidated Appropriations Act. Over 5,000 pages in length, the Act included revisions and additions to the Paycheck Protection Program (PPP). The new PPP will (1) accept...more
The U.S. Small Business Administration (SBA) recently announced its plan to require Paycheck Protection Program (PPP) lenders to issue “loan necessity” questionnaires to all borrowers of PPP loans of $2 million or more. On...more
Starting around October 26, 2020, the Small Business Administrations (the “SBA”) asked some Paycheck Protection Program (“PPP”) lenders to provide certain questionnaires to PPP borrowers with loans over $2 million. The...more
On October 31, 2020, the SBA released new forms and related instructions requiring borrowers with PPP loans of $2 million or more to provide additional information related to their PPP loans. Titled “Loan Necessity...more
The Small Business Administration (SBA) has released loan necessity questionnaires that lenders must issue to over 50,000 borrowers that received $2 million or more in funds from the Paycheck Protection Program (PPP) – and...more
The U.S. Small Business Administration (“SBA”) recently released additional details relevant to those participating in the Paycheck Protection Program (“PPP”). In particular, on October 26, 2020, the SBA posted a notice...more
On October 2, 2020, the Small Business Administration (SBA) issued Procedural Notice No. 5000-20057 addressing procedures applicable to a “change of ownership” of a borrower who has received a loan under the Paycheck...more
Part of the 2020 Business Solutions Series presented by by the Hampton Roads Alliance and Williams Mullen Charles E. “Chuck” James, Jr., co-chair of both the Firearms Industry Group and the White Collar & Investigations...more
Join McDermott and BDO on Thursday, August 20 to hear about the latest updates concerning the Paycheck Protection Program (PPP). Our multi-disciplinary panel will cover the most pressing issues as of August 2020, including: ...more
As part of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) enacted by Congress and signed into law by the President last March, the Federal Reserve has made the Main Street Lending Program (the...more
The SBA and the United States Treasury have now released a list of over 600,000 PPP loan borrowers who received PPP loans of $150,000 or more. This list includes the name of the borrowers, the general loan range of the PPP...more
The Federal Reserve (the “Fed”) has announced further changes to its now $600 billion Main Street Lending Program. From the program’s initial construct, which seemed aimed at larger companies, minimum loan sizes have been...more
The following information has been adapted from the Small Business Administration’s (SBA) Paycheck Protection Program Borrower Information Fact Sheet to provide information tailored for nonprofits. This document is for...more
On Friday, June 5, 2020, the Paycheck Protection Program Flexibility Act (PPPFA) became law. The PPPFA amends certain provisions of the Paycheck Protection Program (PPP). Among other things, the PPPFA is largely aimed at...more
Both the House and the Senate have now passed HR 7010 providing PPP borrowers more favorable terms. We first alerted you on May 27th of possible changes to PPP being considered by both the House and the Senate. Last night in...more
On April 30, the Federal Reserve announced substantial changes to the initial terms of its Main Street Lending Program originally released on April 9, 2020: After receiving over 2,200 comment letters and consulting with...more
The U.S. Department of the Treasury recently issued additional guidance in the form of Frequently Asked Questions (“FAQ”) for businesses that have received or are still seeking PPP loans. The critical piece of the FAQ is the...more
THREE KEY TAKEAWAYS: The Main Street Lending Program (the “Program”) will allow Eligible Lenders to make New Loans, Priority Loans or Expanded Loans on existing debt to Eligible Borrowers who have less than 15,000 employees...more
Recent statements by U.S. government officials indicate greatly increased odds that recipients of CARES Act Paycheck Protection Program (“PPP”) loans will face scrutiny and potential government action. Yesterday, in a CNBC...more
The U.S. Treasury and the Board of Governors of the Federal Reserve Board announced yesterday the interim details of the $600 billion Main Street Lending Program which will provide financial support in the form of four-year...more
The Small Business Administration issued an Interim Final Rule related to “Business Loan Program Temporary Changes; Paycheck Protection Program.” This Rule is effective on publication in the Federal Register and applies until...more
The SBA, in consultation with the Treasury Department, has issued as of April 7 additional Frequently Asked Questions (FAQ) on Paycheck Protection Program Loans (the “April 7 FAQ”). The April 7 FAQ answers several questions...more
A lot of attention has surrounded the relief provided to individuals and small businesses under the Coronavirus Aid, Relief and Economic Security Act (CARES Act) signed by the president on March 27, 2020. But medium-sized...more