This final alert in our four-part series on coronavirus stimulus legislation covers the various other significant stimulus proposals focused on businesses contained in the Democrat’s Health and Economic Recovery Omnibus...more
9/9/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Employee Retention ,
Financial Stimulus ,
Meal and Entertainment Expenditures ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
Semiconductors ,
Tax Credits ,
Work Opportunity Tax Credit
Revisions Incorporate Paycheck Protection Program Flexibility Act of 2020, New Forgiveness Applications, and Recent Interim Final Rules -
On June 16, 2020, the Small Business Administration (SBA) and the U.S. Treasury...more
7/10/2020
/ Applications ,
Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
Interim Final Rules (IFR) ,
Lenders ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
Small Business ,
Small Business Loans
Borrower Details Released -
On July 6, 2020, the Small Business Administration (SBA) and the U.S. Treasury released detailed and searchable information about more than 650,000 borrowers that received PPP loans. As the SBA...more
Revisions Incorporate Paycheck Protection Program Flexibility Act of 2020, New Forgiveness Applications, and Recent Interim Final Rules -
On June 16, 2020, the Small Business Administration (SBA) and the U.S. Treasury...more
6/22/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Interim Final Rules (IFR) ,
Loan Applications ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Relief Measures ,
SBA ,
Small Business ,
Small Business Loans
Late in the day on June 3, 2020, after days of dramatic uncertainty about whether certain senators would object, the U.S. Senate approved by unanimous consent the Paycheck Protection Program Flexibility Act of 2020 (H.R....more
On May 15, 2020, the Small Business Administration (SBA) and the U.S. Treasury Department released their much anticipated Loan Forgiveness Application and corresponding instructions (Forgiveness Application) for the Paycheck...more
5/19/2020
/ Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Loan Forgiveness ,
Loan Repayment Issues ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Relief
After we issued the client alert below, the SBA also published FAQ #47 extending the date for the safe harbor period to return PPP funds to May 18, 2020.
One day before the U.S. Small Business Administration’s (SBA)...more
On May 7, 2020, Secretary of Commerce Wilbur Ross announced the allocation of $300 million in federal assistance to coastal states, tribes and territories for distribution to participants in the fishery industry who have been...more
Borrowers now have until May 14, 2020 to decide whether to return Paycheck Protection Program (PPP) funds within a safe harbor period provided by the U.S. Small Business Administration (SBA). The SBA released FAQ 43 on May...more
On April 30, 2020, the Board of Governors of the Federal Reserve (Federal Reserve) announced revised terms for its $600 billion Main Street Lending Program. These include a third financing facility titled the Main Street...more
As we have previously discussed in several prior Client Alerts, the Paycheck Protection Program (“PPP”), launched last month as part of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), is intended to...more
On Friday, April 24, 2020, President Trump signed into law the Paycheck Protection Program and Health Care Enhancement Act (the “Act”), which amends the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”)....more
On April 9, 2020, the Treasury and the Federal Reserve Board (Federal Reserve) released new details regarding the Main Street Lending Program, as well as several other financial relief programs, focused on providing liquidity...more
Late in the evening on April 2, the SBA issued an Interim Final Rule on the PPP (the April 2 Rule) and published a revised Application form (Revised Application). While SBA and Treasury continue to say that loans will be...more
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). Among the provisions of the CARES Act is the Paycheck Protection Loan Program (“PPP”), a new $349...more
Things are moving fast (perhaps the only good news in this uncertain environment). On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). On Monday, March...more
4/2/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Private Equity ,
Private Equity Firms ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Venture Capital