News & Analysis as of

Small Business Relief Measures Coronavirus/COVID-19

McDermott Will & Emery

The PPP Turns Four: Lessons Learned and What Lies Ahead

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Four years ago this month, lenders began dispersing Paycheck Protection Program (PPP) loans to small businesses in what would become the largest Small Business Administration (SBA) lending program in history. The SBA approved...more

Miller Canfield

Debt Limit to Qualify for Subchapter V and Chapter 13 Set to Revert This Summer

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In 2022, Congress passed the Bankruptcy Threshold Adjustment and Technical Corrections Act (the “Act”), raising the debt limits for bankruptcy cases under the Small Business Reorganization Act (“SBRA,” a.k.a. “Subchapter V”)...more

Buckingham, Doolittle & Burroughs, LLC

Employee Retention Credit on the Chopping Block as Congress Mulls Tax and Spending Bills

The Tax Relief for American Families and Workers Act of 2024 (H.R. 7024) would terminate the employee retention credit (ERC) for claims filed after January 31, 2024. Initially authorized by the CARES Act to incentivize...more

Polsinelli

Screening Failures Caused PPP Fraud

Polsinelli on

On December 1, 2022, the House Select Subcommittee on the Coronavirus Crisis released a staff report describing the poor performance of the financial technology companies that took a prominent role in administering the...more

Miller Canfield

Sunset of Certain Bankruptcy Code Changes

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As we previously reported, the Bankruptcy Code saw many changes in 2020 and 2021. Some of the changes that were enacted under the Consolidated Appropriations Act, 2021 ("CAA") will soon end....more

Perkins Coie

California COVID-19 Employment Regulations Extended Through 2023

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In 2022, California again passed assembly bills related to COVID-19. The recent legislation extended some employer obligations while easing others. Touching upon many topics, these bills address supplemental paid sick leave,...more

Adams and Reese LLP

More Businesses Now Eligible for Employee Retention Credit (ERC) – Do You Qualify?

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What is the ERC? Congress introduced the Employee Retention Credit (ERC) as part of the CARES Act to encourage businesses to keep employees on their payroll during the pandemic. ...more

Womble Bond Dickinson

Congress Temporarily Raises Subchapter V Debt Limit. Again.

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A key temporary bankruptcy related response to the pandemic has been re-implemented and extended with the passage of the Bankruptcy Threshold Adjustment and Technical Corrections Act (the “Act”) which extends the increase in...more

PilieroMazza PLLC

Weekly Update for Government Contractors and Commercial Businesses– May 2022 #4

PilieroMazza PLLC on

GOVERNMENT CONTRACTS - Fraud Allegations Could Bedevil Borrowers in SBA COVID-19 Relief Programs for Many Years - As everyone who has been tracking the COVID-19 relief programs since 2020 knows, at the outset there was...more

PilieroMazza PLLC

Fraud Allegations Could Bedevil Borrowers in SBA COVID-19 Relief Programs for Many Years

PilieroMazza PLLC on

As everyone who has been tracking the COVID-19 relief programs since 2020 knows, at the outset there was massive confusion about the programs’ requirements as well as fear that funding could run out before businesses with...more

Shumaker, Loop & Kendrick, LLP

Client Alert: Only Three Weeks Left (June 1) to Apply for Phase Two of the North Carolina Business Recovery Grant Program

North Carolina is still providing support for businesses impacted by the COVID pandemic. However, time is running short for this latest round of funds. Phase Two of North Carolina’s Business Recovery Grant Program is the...more

Venable LLP

Businesses Affected by COVID-19 in 2020 or 2021 Can Still Claim Tax Credits

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While many businesses have already taken advantage of the opportunities available to them under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and subsequent COVID‑19 relief legislation, there are still...more

Sheppard Mullin Richter & Hampton LLP

CFPB Signals Foray into Protecting Small Businesses from Abusive Debt Collectors

On April 15, the CFPB and FTC announced the release of a joint annual report to Congress administering the Fair Debt Collection Practices Act (FDCPA).  The annual report highlights both agencies’ efforts to protect and...more

Womble Bond Dickinson

Sun Sets on Increased Subchapter V Debt Limit for Now

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A key bankruptcy-related response to the pandemic has ended as the increased debt limits under subchapter V of chapter 11, passed by Congress in the CARES Act, have expired. In an effort to provide bankruptcy relief and...more

Kohrman Jackson & Krantz LLP

Restaurants Push for More COVID Relief

Two years ago this week, the country began to shut down due to COVID. Now, thousands of restaurant owners, employees and patrons alike are calling on President Biden to assist in getting another round of restaurant relief...more

Arnall Golden Gregory LLP

What We Can Learn From Recent PPP Loan and COVID Fraud Cases

Since April 2020, through the CARES Act, the government has provided billions of dollars in emergency financial assistance to Americans suffering from the economic effects caused by the COVID-19 pandemic, including through...more

PilieroMazza PLLC

PPP Loan Fall-Out: Expect More Audits and Investigations

PilieroMazza PLLC on

Unfortunately, the PPP Loan fall-out is far from over.  As we noted in the last blog on PPP issues, we are seeing a number of PPP Forgiveness denials for a number of different reasons, and, along with that, we are seeing the...more

PilieroMazza PLLC

PPP Loan Forgiveness Appeal Process: 4 Steps to Knowing and Protecting Your Rights

PilieroMazza PLLC on

As discussed in PilieroMazza’s previous alert, the Small Business Administration (SBA) released its Paycheck Protection Program (PPP) Loan Forgiveness application way back in May of 2020.  Since then, PPP forgiveness...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Ontario Implements New Lockdown and Revised COVID-19 Testing Guidance

On January 3, 2022, the Ontario government announced a number of restrictions in response to climbing COVID-19 case numbers and increased hospitalizations. Effective January 5, 2022, the province is temporarily returning to a...more

WilmerHale

The UK Government’s Bounce Back Loan Scheme - are there lessons to be learned?

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The UK’s National Audit Office (the “NAO”) has reported that an estimated 11% - a total of £4.9 billion out of £47 billion issued - of the 1.5 million loans granted under the Government’s COVID-19 Bounce Back Loan Scheme (the...more

Cozen O'Connor

In extremis — PPP Money Is Not “Free” So Applicants & Recipients Need to Beware

Cozen O'Connor on

As most of the population is aware, to try and preserve the economy and businesses viable during the COVID-19 pandemic, congress passed the CARES Act. That bill included the Payroll Protection Program (PPP), in which small...more

Proskauer Rose LLP

Front and Center: Latest SVO Grant Numbers (UPDATED)

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The SBA stopped accepting new SVO Grant applications on August 20, 2021.  The SBA is currently reviewing submitted SVO Grant applications and issuing both initial and supplemental awards.  As of November 29, 2021, the SBA had...more

Proskauer Rose LLP

Front and Center: Latest SVO Grant Numbers (UPDATED)

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The SBA stopped accepting new SVO Grant applications on August 20, 2021.  The SBA is currently reviewing submitted SVO Grant applications and issuing both initial and supplemental awards. As of November 15, 2021, the SBA had...more

Wiley Rein LLP

PPP Recipients Beware – Your Loan Forgiveness May Be a Credit Due Back to Government

Wiley Rein LLP on

One of most significant aspects of the 2020 Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was the “Paycheck Protection Program” (PPP). PPP, administered by the Small Business Administration (SBA), authorized...more

Proskauer Rose LLP

Front and Center: Latest SVO Grant Numbers (UPDATED)

Proskauer Rose LLP on

The SBA stopped accepting new SVO Grant applications on August 20, 2021.  The SBA is currently reviewing submitted SVO Grant applications and issuing both initial and supplemental awards.  As of October 4, 2021, the SBA had...more

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