The Paycheck Protection Program (PPP) represented a lifeline to many businesses struggling to stay afloat amid the Coronavirus pandemic by providing forgivable loans to businesses to cover payroll and certain non-payroll costs. Unfortunately, businesses who were fortunate enough to obtain […]
On May 15, 2020, the Small Business Administration (“SBA”) issued its loan forgiveness application for businesses who received loans under the Paycheck Protection Program (“PPP”). In addition to providing instructions for calculating forgiveness amounts, the application provides some guidance on […]
In response to public criticism regarding the disbursement of loans to larger companies, on April 23, the Small Business Administration (SBA) issued guidance stressing that Paycheck Protection Program (PPP) loan applicants needed to certify in good faith that current economic […]
On Friday, the President signed the Paycheck Protection Program and Health Care Enhancement Act, which provided an addition $310 billion into the CARES Act’s Paycheck Protection Program. The program goes live again on April 27 at 10:30 EDT. While the […]
To clear up some uncertainty in the language of the CARES Act’s Payroll Protection Program (“PPP”) and the subsequent interim final rules, the Small Business Administration (“SBA”) issued Frequently Asked Questions (“FAQs”) which are available here. Highlighted below are some […]
Over the weekend, the U.S. Department of Labor (“DOL”) published two separate guidance documents, Unemployment Insurance Program Letters (UIPLs) 15-20 and 16-20, which provide information related to two separate programs under the CARES Act: the Pandemic Unemployment Assistance Program (PUA) and the Federal […]
The Paycheck Protection Program is one of the key relief provisions included in the $2 trillion relief package under the CARES Act. This program provides forgivable loans to small businesses and nonprofit organizations to cover payroll costs, rent, mortgage interest […]
The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was signed into law on March 27, 2020. Among other things, the Act provides relief programs for employers, including loans, grants and tax incentives. Please click here* for our summary […]
