Additional Assistance Available: Certain SBA Loan Subsidies Under the CARES Act
The Bottom Line For small businesses impacted by COVID-19 looking for additional financial assistance, the CARES Act set aside $17 billion for the SBA to subsidize payments of principal, interest and fees for six months under certain existing and new SBA loans. Notably, this benefit does not apply Continue Reading
Rewards and Risks for Distressed Strategic Middle Market M&A
The Bottom Line Buyers acquiring distressed assets should remain mindful of transactional risks unique in distressed contexts. Such buyers should not rely solely on typical M&A risk mitigation tactics in structuring and negotiating a deal, and instead should consider the ways that they can Continue Reading
Paycheck Protection Program Flexibility Act of 2020
The Bottom Line The Paycheck Protection Program Flexibility Act of 2020 (the PPP Flexibility Act) was enacted on June 5, 2020. The PPP Flexibility Act provides borrowers with additional flexibility in both the amount of time and the ways in which they are able to use their PPP loan Continue Reading
Latest Guidance on Paycheck Protection Program Loan Forgiveness
The Bottom Line The SBA released long awaited guidance on calculating PPP loan forgiveness and the related steps involved in the forgiveness application process. While the guidance does not answer every question, after reviewing the new guidance, borrowers will be in a much better position to make Continue Reading
Main Street Business Lending Program Updates
Paycheck Protection Program and Health Care Enhancement Act to Appropriate Additional Funds for Small Business Loans
The Bottom Line The President signed into law the Paycheck Protection Program and Health Care Enhancement Act (the PPPHCE Act), an approximately $484 economic stimulus package in response to the COVID-19 pandemic.The PPPHCE Act replenishes the funding for the Paycheck Protection Program (PPP) and Continue Reading
Paycheck Protection Program Update & Main Street Lending Program
The Impact of COVID-19 on U.S. Trademark Applications and Registrations
The Bottom Line Although the USPTO may extend certain filing deadlines and payments by 30 days where the trademark owner can show that the COVID-19 outbreak interfered with timely filing or payment, trademark owners should continue to exercise best efforts to comply with all deadlines.Davis+Gilbert Continue Reading
COVID-19 Considerations for Retirement Plan Sponsors and Committees
The Bottom Line The novel coronavirus is presenting employers with new challenges on a daily basis. Employers should work closely with their ERISA counsel to ensure that they are administering their qualified retirement plans correctly and satisfying their fiduciary obligations while taking Continue Reading