On April 14, 2020, the Small Business Association (SBA) issued an Interim Final Rule providing guidance on the CARES Act Paycheck Protection Program (PPP) and eligible self-employed individuals....more
Small businesses that applied for loans and advances under the Economic Injury Disaster Loan (EIDL), originally reported in our March 30 memo, which includes a $10,000 advance that does not have to be repaid, have been...more
As noted in our prior memo from April 1, 2020, as part of the CARES Act, the Medicare Accelerated Payment Program (Program) was expanded. In an effort to provide financial support to health care providers during the current...more
The U.S. Small Business Administration (SBA) issued an Interim Final Rule with respect to the Paycheck Protection Program (PPP) loan. In this rule, the SBA confirmed that the PPP loan applications will be processed on a...more
The Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) provides financial assistance for businesses impacted by the COVID-19 pandemic. In addition to the assistance available for small businesses discussed in...more
April 1, 2020 By: Elizabeth L. Lehmann, Kate Chmielowiec, and Jeffrey B. Scheer The Department of Treasury has announced that eligible small businesses will be able to apply to the CARES Act Paycheck Protection Program (PPP)...more
Small businesses face unprecedented and unique financial difficulties in wake of the COVID-19 pandemic. This Information Memo provides a comprehensive summary of three main relief programs that may be available to small...more
The COVID-19 crisis has hit small businesses particularly hard, with emergency measures including the shutdown of on-site operations, loss of income and mounting expenses. In addition to the efforts of the U.S. Small Business...more
Earlier today, the House of Representatives passed and President Trump signed the Coronavirus Aid, Relief and Economic Security Act or the CARES Act (the Act). The Act provides certain relief for businesses and individuals...more
The COVID-19 crisis has hit small businesses particularly hard, with emergency measures including the shutdown of on-site operations, loss of income and mounting expenses. ...more
In the wake of the coronavirus pandemic, the U.S. Small Business Association (SBA) announced that it will provide economic injury disaster loans for coronavirus related economic disruptions. Eligible entities may qualify for...more
In December of 2013, New York enacted the Nonprofit Revitalization Act (the NPRA) which impacted all New York not-for-profit corporations as it sought to not only update New York’s Not-for-Profit Corporation Law (NPCL) but it...more