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SBA’s PPP Loan Forgiveness Application and Instructions: Notes of Significant Items
On Friday, May 16, 2020, the Small Business Administration (“SBA”) published its Paycheck Protection Program (“PPP”) Loan Forgiveness Application and Instructions (the “Forgiveness Application”). The Forgiveness Application not only sets forth the method by which borrowers must calculate the PPP loan forgiveness amount, but also includes new rules and guidance […]
Fri May 22, 10:03pm Share
What Commercial Landlords Need to Know if a Tenant Files a Chapter 11 Bankruptcy (And What They Should Consider Before the Filing)
Due to the COVID 19 virus and related rules and guidelines regarding social distancing, many commercial tenants will have difficulty making payments on commercial leases and otherwise complying with their lease obligations. This may cause a substantial number of commercial tenants to file for Chapter 11 bankruptcy. To prepare for […]
Sun May 17, 3:28pm Share
Update on Small Business Loans & Grants Under the CARES Act
New May 14, 2020 deadline for Repayment of PPP Loans to Avoid Examination regarding Borrower PPP Loan Certifications Since our last update on April 27, 2020, the U.S. Treasury Department (“Treasury”) and Small Business Administration (“SBA”) have continued to apply pressure on borrowers who obtained PPP loans to repay such […]
Mon May 11, 2:50pm Share
Do I Have Insurance Coverage for Loss of Business Income?
The swift spread of the Coronavirus pandemic has caused an estimated $2.7 trillion in economic losses, and large and small businesses alike are continually feeling the impact. Stay-at-home orders forced the closure of businesses deemed “non-essential” and severely limited other businesses’ income. Federal legislation has offered disaster and forgivable small […]
Thu May 7, 2:28pm Share