Corporate Law Blog

New Guidance on Change of Ownership Issues for PPP Loans

Under the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, small businesses around the nation have received Paycheck Protection Program (“PPP”) loans to stay afloat during the pandemic, but the rules regarding these disbursements haven’t always been so clear. On October 2, 2020, the Small Business Administration (“SBA”) issued guidance to all SBA employees and PPP lenders to clarify the requirements around the ownership of businesses receiving PPP loans. More >

Federal Reserve Announces Expansion of Main Street Lending Program

The Federal Reserve expanded the Main Street Lending Program on Monday, June 8, 2020. The expansion allows for more small and medium-sized businesses to receive support during the COVID-19 pandemic. The Main Street Lending Program was established to support lending to businesses who were in sound financial condition before the pandemic began. More >

Best Practices for Transitioning to the Virtual Workplace

Over the past few months, most businesses have been forced to adapt the way they operate due to the COVID-19 pandemic. A common adaptation has been to move toward a virtual business – for both services and employees. This transition brings a host of new concerns related to cybersecurity and the protection of client, employee, and organization information. More >

Payroll Protection Program Flexibility Act provides some latitude with loans

The Payroll Protection Program Flexibility Act (PPPFA) was signed into law on June 5, 2020. The Act is intended to address several concerns expressed by stakeholders regarding the Payroll Protection Program (PPP) that was introduced as a part of the Coronavirus Aid, Relief, and Economic Security Act passed on March 27, 2020. More >

An ADA Compliant Website Has Never Been More Important

Now, more than ever, a business’s website is its storefront. This was the emerging trend even before the public health and safety of our country required Americans to stay home. And shop from home. And conduct business from home. More >

Payroll Protection Program Loan Forgiveness Applications Now Available

The United States Small Business Administration (SBA) has made the applications for Payroll Protection Program (PPP) loan forgiveness available on their website.

Businesses who obtained PPP loans as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act are eligible to have those loans forgiven in full if used within an eight-week period for a specific set of payroll and business needs. More >

Additional Guidance Provided for PPP Loans as Policing of Funds Begins

The Payroll Protection Program (PPP), established as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, extended a lifeline to businesses during the COVID-19 pandemic by making more than $650 billion dollars in loans available along with the opportunity for full loan forgiveness if certain criteria are met. This amount of money, however, brings an increased likelihood for scrutiny from the Federal government. More >

Congress approves extension for PPP and EIDL programs

After the initial funding for the Payroll Protection Program (PPP) and the Economic Injury Disaster Loan program (EIDL) were exhausted, Congress acted last week to extend those benefits to help businesses navigate the fallout of the COVID-19 pandemic. These programs have been a much-needed boost for businesses. More >

New Program Provides Relief for Mid-Size Businesses (and Small Businesses, too!)

With the expansion of Small Business Administration loans available under the CARES Act – the Paycheck Protection Program and expanded EIDL program – many small business owners sought and found much-needed relief, but mid-size businesses were excluded from these programs by virtue of their size. The Federal Reserve and the Treasury Department have now revised the Main Street Lending Program, which includes mid-size employers. This program is effective immediately and runs through September 30th, providing up to $600 billion in loans. We’ve summarized the key points, available below: More >

The CARES Act – What You Need to Know about Relief Now Available for Businesses

With the passage of the Coronavirus Aid, Relief and Economic Security Act, or CARES Act, businesses received a dose of much-needed relief in the form of tax payment deferrals and loan programs. In this post, we’ll take a look at both the previously established EIDL Program and the Paycheck Protection Program. More >