News & Analysis as of

Loans Small Business Coronavirus/COVID-19

Bradley Arant Boult Cummings LLP

PPP Loan Credits and Government Contracts: What Contractors Need to Know During Incurred Cost Reviews

As federal contractors continue to navigate the post-pandemic compliance landscape, a recurring issue has emerged in government audits and incurred cost reviews: whether and how contractors must credit the government for...more

Ankura

Fraud and Corruption in Covid Bounce Back Loans - A Perspective for Lenders

Ankura on

Under the government Bounce Back Loan Scheme (BBLS), small businesses struggling due to the pandemic could obtain a fully government-secured loan of up to £50,000 with no repayments required for the first 12 months....more

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

Schwabe, Williamson & Wyatt PC

10 Things to Know about Second Draw PPP Loans as Updated for the Economic Aid Act and the ARP Act - Update #5

On January 6, 2021, the Small Business Administration (the “SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans” (“Second...more

Hutchison PLLC

Paycheck Protection Program 2.0: Second Draw Loans and Other Updates

Hutchison PLLC on

On December 27, 2020, the Economic Aid to Hard-Hit Small Business, Nonprofits and Venues Act (the “Act”) became law. The Act included $284 billion of additional funding under the Paycheck Protection Program (the “PPP”). The...more

Snell & Wilmer

New COVID-19 Relief Bill Adds PPP ‘Second Draw’ Loans and Modifications to Original PPP

Snell & Wilmer on

On December 27, the Consolidated Appropriations Act of 2021 (the “Act”) was signed into law. This Act makes available $284 billion for second draw loans under the Paycheck Protection Program (“PPP-2”) and also makes important...more

Nelson Mullins Riley & Scarborough LLP

Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act Provides Additional Funding to Small Businesses Under the...

In response to the continued market disruption and economic impact of the COVID-19 pandemic, Congress passed the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act, or the Act, on December 21, 2020 as a part...more

Oberheiden P.C.

SBA Loan Fraud Defense—How to Defend Against an Indictment

Oberheiden P.C. on

Tips on Preparing to Defend Against Allegations of SBA Loan Fraud During the COVID-19 Crisis - Federal emergency relief legislation—including the Coronavirus Aid, Recovery, and Economic Security Act (“CARES Act”)—has...more

Downs Rachlin Martin PLLC

Vermont Legislative Update 06-12-2020 - An analysis from DRM's Government & Public Affairs Team

Vermont has largely escaped the physical devastation of the COVID-19 pandemic, with the vast majority of cities and towns reporting zero to five cases. But the economic toll has been immense, and the scope of financial losses...more

Dorsey & Whitney LLP

UK Government Assistance for Businesses in the COVID-19 Crisis

Dorsey & Whitney LLP on

The UK Government has made a number of further announcements in connection with initiatives designed to assist businesses and individuals during the COVID-19 crisis. These are as follows...more

White and Williams LLP

Making It Up As We Go Along?: Real-Time Changes to Paycheck Protection Program Continue with Release of Additional Rules

The U.S. Small Business Administration (SBA) continues to fine-tune the terms of the Paycheck Protection Program (PPP) with the release of a fifth interim final rule on disbursements on April 28th (the Fifth Rule) and a sixth...more

BakerHostetler

Summary of SBA's COVID-19 EIDL Loan Program

BakerHostetler on

With the dire economic contractions occasioned by the rapid spread of COVID-19 nationally and globally, many businesses are quickly running short of capital to make payroll, pay rent, cover other critical overhead and remain...more

Goodwin

The CARES Act: What Banks Need to Know

Goodwin on

Recognizing the critical role that banks and other financial institutions play in providing capital and liquidity to American businesses and consumers, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the...more

Butler Snow LLP

CARES Act – Retirement Plan Distribution and Loan Rules Liberalized

Butler Snow LLP on

With the economic fallout from the public health measures taken to mitigate the spread of the SARS-CoV-2 virus and COVID-19 disease, many employers have had to resort to unprecedented employment actions, including...more

A&O Shearman

France: State Guarantee Scheme for New Money Loans

A&O Shearman on

In light of the growing pandemic of COVID-19, the French government has made a number of unprecedented decisions in order to support business activities. Among an extensive panoply of measures relating to short time work, tax...more

Faegre Drinker Biddle & Reath LLP

Labor and Employment Issues in the CARES Act

On March 27, 2020 the House passed the Coronavirus Aid, Relief and Economic Security Act (CARES Act) – the largest stimulus package in U.S. history – in response to the economic crisis caused by the coronavirus pandemic. The...more

Jackson Lewis P.C.

Strings Attached: Accepting COVID-19 Financial Relief Could Limit Ability To Oppose Union Organizing

Jackson Lewis P.C. on

Businesses that seek financial assistance under the Coronavirus Aid, Relief, and Economic Security (CARES) Act will be subject to several unique restrictions that could dramatically affect a company’s future. While the...more

Cole Schotz

COVID-19 Alert: New York City Offers Small Business Assistance

Cole Schotz on

As COVID-19 continues to negatively affect commerce around the country, there are different programs available to help businesses in need. In addition to the Small Business Association’s recent expansion of its Economic...more

Cole Schotz

SBA Expands Disaster Loan Program For Small Businesses Impacted By COVID-19

Cole Schotz on

In an effort to assist small businesses impacted by the Coronavirus, the Small Business Association (SBA) has recently expanded access to its Economic Injury Disaster Loan program for small businesses and private nonprofit...more

Roetzel & Andress

300 Billion SBA Loan Program Expansion Considered By Congress

Roetzel & Andress on

A second SBA loan relief program is currently being considered by Congress. The United States Senate is attempting to finalize the Keeping Workers Paid and Employed Act (“KWPEA”) which is Division A of the Coronavirus Aid,...more

Downs Rachlin Martin PLLC

What Resources Are Available to Small Businesses During COVID-19?

What emergency funding resources are available for my Vermont or New Hampshire small business? The US Small Business Administration (SBA) has made disaster assistance available to small businesses in the following Vermont...more

Cozen O'Connor

Texas Governor Requests Small Business Administration Disaster Loans

Cozen O'Connor on

On March 17, 2020, Texas Governor Greg Abbot formally requested the U.S. Small Business Administration declare a disaster for the entire state of Texas pursuant to 13 CFR § 123.3 to address the impact of the coronavirus on...more

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