Just one day before the May 14 safe harbor date for borrowers to repay loans under the Paycheck Protection Program (PPP), the Small Business Administration (SBA) issued additional guidance regarding the good faith “need”...more
This alert has been updated to reflect further guidance issued by the Small Business Administration (SBA) on May 5, 2020 indicating that forthcoming rule changes will extend the repayment date for the safe harbor discussed...more
5/6/2020
/ Borrowers ,
CARES Act ,
Certificate of Need ,
Certifications ,
Federal Loans ,
Federal Taxes ,
Final Rules ,
Loan Forgiveness ,
New Guidance ,
Paycheck Protection Program (PPP) ,
Safe Harbors ,
SBA ,
Small Business
The impact currently being felt by businesses in the restaurant and hospitality industries as a result of the COVID-19 pandemic and, more directly, the rapidly expanding social distancing requirements and travel limitations,...more
3/31/2020
/ Business Closures ,
Business Interruption ,
Business Licenses ,
Commercial Leases ,
Commercial Real Estate Contracts ,
Commercial Tenants ,
Coronavirus/COVID-19 ,
Critical Infrastructure Sectors ,
Employer Liability Issues ,
Homeland Security Cybersecurity & Infrastructure Security Agency (CISA) ,
Hospitality Industry ,
Landlords ,
Layoffs ,
Operators of Essential Services ,
Reduction in Hours ,
Restaurant Industry ,
Small Business ,
Small Business Loans ,
WARN Act ,
Workplace Safety
On March 25, 2020, the Senate unanimously passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) in response to COVID-19, and the House is scheduled to vote on the CARES Act on March 27, 2020. President...more