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On June 22, 2020, the Small Business Administration (“SBA”) released an Interim Final Rule (“the Rule”) that provides further guidance on loans administered through the Paycheck Protection Program (“PPP”). Specifically, the rule clarifies the process for achieving...
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By Mark A. Fahleson, Tara Tesmer Paulson, Jennifer L. Ralph
The Center for Disease Control and Prevention (“CDC”) has indicated that people 65 years of age and older are at high risk for severe illness from COVID-19. ...
Congress has recently passed the Paycheck Protection Program Flexibility Act of 2020 (the “Act”). It is anticipated that the President will sign the bill, at which point it will become law. This Act makes several important changes to the Paycheck...
Chances are the current COVID-19 pandemic has consumed your personal and work life over the past month. Although significant guidance has been issued with respect to the various requirements employers must comply with, much remains unclear. Not a day goes...
On Thursday, April 23rd, Congress passed another relief package authorizing an additional $310 billion for the CARES Act’s Paycheck Protection Program – the forgivable loan program designed to help small businesses cover payroll costs during the Covid-19 pandemic. Originally allocated...
Once a borrower has secured a loan from the Small Business Association (the “SBA”) under the Paycheck Protection Program (“PPP”), there are important things each borrower should know to help maximize the benefits of the program. This article is based on...
Last week the Federal Reserve released a preliminary term sheet regarding the Main Street Lending Program (the “MSLP”) that was authorized by the CARES Act. Under the MSLP, up to $600 billion will be made available to provide relief to...
Last night, the Small Business
Administration (“SBA”) issued an interim final rule to announce the implementation
of the “Paycheck Protection Program” created by the CARES Act and to provide
some much-anticipated guidance on the program’s requirements. A few hours
later, after midnight on April...
On Wednesday, March 18, 2020,
President Donald Trump signed the Families First Coronavirus Response Act (the
“Act”) into law. The Act contains significant
new obligations for most employers—both private and public. This article provides a brief overview of two
subtitles within the new Act: ...
We at Rembolt Ludtke LLP want to share our sincere hope that you are safe and doing well. As we all navigate how best to plan for and deal with the impact of the virus, our top priority is the...
