Dec 11, 2020 | Firm Overview Articles, Business & Corporate Law News
Key Highlights: SBA requires borrowers to recognize, as income, any loan payments made on behalf of a borrower by the SBA. SBA requires lenders to complete and send the necessary IRS forms to such borrowers. As part of the CARES Act, the Small Business Administration...
Jun 24, 2020 | Firm Overview Articles, Business & Corporate Law News, Employee Benefits & ERISA News
The CARES Act, passed by Congress and signed into law by the President to provide coronavirus-related relief, temporarily modified certain distribution and loan rules that apply to employee retirement plans. The goal of these changes is to provide “qualified...
May 27, 2020 | Firm Overview Articles, Business & Corporate Law News
Rev. 06/01/2020 On May 22, 2020, the Small Business Administration (SBA) in consultation with Treasury released an Interim Final Rule addressing PPP loan forgiveness. This long-awaited guidance provides some clarity to questions that had been raised about how PPP loan...
May 27, 2020 | Firm Overview Articles, Business & Corporate Law News
On May 22, 2020, the SBA posted an interim final rule which addresses SBA’s reviews of individual PPP loans, processes and timelines for dispositions of PPP loan forgiveness applications, and lender fees. SBA Process for Review of PPP Loans The SBA has clarified...
May 18, 2020 | Firm Overview Articles, Business & Corporate Law News
Key Highlights of the Coronavirus Food Assistance Program: On April 17th, the U.S. Department of Agriculture (USDA) announced significant new programs to support producers of meat, dairy and produce as well as a food assistance program for local food banks. The...
