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CARES Act Small Business Administration Trump Administration

Benesch

Paycheck Protection Program (“PPP”) Loan Fraud: A Survey & Analysis of Recent Civil & Criminal Enforcement Outcomes

Benesch on

The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act was a federal law enacted in or around March 2020 designed to provide emergency financial assistance to the millions of Americans who were suffering the...more

King & Spalding

Oversight Subcommittee on the Coronavirus Crisis Continues to Actively Investigate the Previous Administration’s Pandemic Response

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When announcing the Democratic members of the Select Subcommittee on the Coronavirus Crisis for the 117th Congress, Chairman Jim Clyburn (D-SC) stated that, “In order to improve our nation’s response, the Select Subcommittee...more

Lowenstein Sandler LLP

Paycheck Protection Program: FAQs For Microbusinesses - UPDATED March 2021 #3

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

Fox Rothschild LLP

Zeroing In: Early Trends In White-Collar Prosecutions Under Biden’s DOJ

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If the Biden administration's early moves are any indicator, its Department of Justice (DOJ) is poised to devote more time and energy to the prosecution of white-collar crime than it did under the Trump administration, when...more

Lowenstein Sandler LLP

Paycheck Protection Program: FAQs For Nonprofits - February 2021

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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

Hogan Lovells

Coronavirus: The Hill and the Headlines, January 2021 # 7

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In Washington: The Trump administration will no longer hold back the second dose of a coronavirus vaccine in order to speed up inoculations. The changes are a departure from current policy and align with a plan unveiled by...more

Lowenstein Sandler LLP

A Primer On Second Draw PPP Loans

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I. Introduction- On December 27, 2020, President Trump signed the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Economic Aid Act) into law to provide continued assistance to individuals and...more

Fox Rothschild LLP

SBA Controls Whether Bankruptcy Debtors May Take PPP Loans

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Until the U.S. Small Business Administration changes its position and rules, bankruptcy debtors are still unable to obtain PPP loans. That’s because, under the Consolidated Appropriations Act 2021 (the Act) signed by...more

Schwabe, Williamson & Wyatt PC

Highlights of PPP Loan Items in the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act and 2021 Consolidated...

The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the “PPP2 Act”) is contained in the Consolidated Appropriations Act, 2021 (“2021 Appropriations Act”), a $900 billion, nearly 5,600-page bill passed...more

Sheppard Mullin Richter & Hampton LLP

The Reauthorization and Revival of the Paycheck Protection Program and Economic Injury Disaster Loan Program under the Economic...

[Update: This article has been updated since its initial publication on December 31, 2020.] On December 27, 2020, President Donald Trump signed into law the Consolidated Appropriations Act, 2021 (the 2021 Consolidated...more

Schwabe, Williamson & Wyatt PC

Ten Things to Know About the PPP Loan Forgiveness Applications - Update #7

Below are ten important things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness ‎Applications and the detailed instructions for the applications posted on June 16, 2020, and October 8, 2020, ‎as well as...more

Tarter Krinsky & Drogin LLP

The Consolidated Appropriations Act, 2021: Important Paycheck Protection Program Provisions

On December 27, 2020, the President signed into law the Consolidated Appropriations Act, 2021 (the Act). The Act is wide-sweeping in its breadth at over 5,500 pages and provides the annual funding for the federal...more

Bass, Berry & Sims PLC

COVID-19 Relief Bill – Extends Paycheck Protection Program and Creates Second Draw Loan Program

Bass, Berry & Sims PLC on

On December 21, the United States Congress passed the Consolidated Appropriations Act, 2021, to fund annual appropriations and, through its “Additional Coronavirus Response and Relief” provisions, to supply a second round of...more

Lowenstein Sandler LLP

The Consolidated Appropriations Act Of 2021 Amendments To The Bankruptcy Code As It Pertains To Business Debtors

Lowenstein Sandler LLP on

On December 21, 2020, Congress passed the Consolidated Appropriations Act of 2021 (the Act), which was just signed by President Donald Trump. The Act makes certain amendments to the United States Bankruptcy Code (the...more

McDermott Will & Emery

COVID Relief Bill: Key PPP Eligibility Issues Loom Large for New and Second Draw Loans

McDermott Will & Emery on

The COVID-19 relief bill opens the door to new aid for small businesses under the Paycheck Protection Program (PPP). This is welcome news to small businesses throughout the country, but—as detailed below—there are significant...more

Cole Schotz

Alert: Continuation And Expansion Of The Paycheck Protection Program

Cole Schotz on

Congress has reached a bi-partisan agreement on the Consolidated Appropriations Act of 2021 (the “Act”), which includes a supplemental relief package aimed at mitigating the continued economic impact of COVID-19 on American...more

Farrell Fritz, P.C.

Year-End Gifting Of Equity In A Business — With An Outstanding PPP Loan?

Farrell Fritz, P.C. on

“Annus Horribilis­”- Just over three weeks to go, then 2020 will be behind you. But don’t drop your guard just yet. Three weeks is a long time – plenty of time, in fact, for one more punch to the gut, another kick in the...more

Katten Muchin Rosenman LLP

SBA Consent Requirements for M&A Transactions with PPP Loans

On March 27, President Trump signed the Coronavirus Aid, Relief and Economic Security Act (CARES Act) which established, among other things, the Paycheck Protection Program (PPP). Under the PPP, the SBA guaranteed loans (PPP...more

McGuireWoods Consulting

Emerging Technologies Washington Update - July 2020 #3

This week: Coronavirus response; EU Court Strikes Down EU-US Privacy Shield; Biden Campaign Releases Federal Technology R&D Proposal; and New Rule Prohibits Contracts with Entities Using Covered Telecommunications Products....more

Hogan Lovells

Coronavirus: The Hill and the Headlines – COVID-19 D.C. Update – July 2020 #3

Hogan Lovells on

In Washington: Any negotiations for a Phase Four deal stimulus package are tabled until Congress returns from its two-week recess on July 20.  Senate Majority Leader Mitch McConnell (R-KY) has suggested the Senate will...more

Lowndes

PPP Application Deadline Extended to August

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On Saturday, President Trump signed into law a bill providing a temporary extension of the Paycheck Protection Program, which was initially set to expire on June 30. Businesses that have not yet taken advantage of the program...more

Hogan Lovells

Coronavirus: The Hill and the Headlines – COVID-19 D.C. Update – June 2020 #14

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In Washington: Democrats are pushing to add funding in response to the COVID-19 pandemic and policy changes affecting police departments in next year’s appropriations bills, threatening to further push back the...more

Verrill

60% Is Not a Cliff, Indeed

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On June 11, the Small Business Administration (SBA) and the Treasury Department published important guidance that the revised 60% condition under the Paycheck Protection Program Flexibility Act will be applied...more

Schwabe, Williamson & Wyatt PC

CARES Act Questions for the Agricultural Industry - Update #1

Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more

Bowditch & Dewey

PPP Flexibility Act of 2020

Bowditch & Dewey on

On Friday June 5, President Trump signed into law the Paycheck Protection Flexibility Act which makes the following tweaks to the original terms of the Paycheck Protection Loan Program. EXTENSION OF THE COVERED PERIOD ...more

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