The Bottom Line Timeline: Prior CTA Developments New Development: Fifth Circuit Reversal On December 26, 2024, the Fifth Circuit vacated the motion panel’s order staying the injunction pending its consideration of the constitutionality of the CTA. In issuing its order, the Fifth Continue Reading
Corporate Transparency Act Update: Back in Effect, Extended Deadlines and What It Means for You
Update On December 26, 2024, the Fifth Circuit vacated the motion panel’s order staying the injunction pending its consideration of the constitutionality of the CTA. The court’s review will be expedited. In issuing its order, the Fifth Circuit noted it’s desire to maintain the “constitutional Continue Reading
Additional Assistance Available: Certain SBA Loan Subsidies Under the CARES Act
The Bottom Line The Coronavirus Aid, Relief and Economic Security Act (CARES Act) provides various types of assistance to small businesses impacted by the novel coronavirus (COVID-19) pandemic. In addition to the establishment of the widely publicized Payroll Protection Program (the PPP) and Continue Reading
Rewards and Risks for Distressed Strategic Middle Market M&A
The Bottom Line During the bull market that followed the recovery from the 2008 financial crisis, we saw robust and sustained merger and acquisition (M&A) activity. Acquisitive companies pursued target businesses with strong balance sheets and bright growth prospects. Acquirers and targets 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 Small Business Administration (the SBA) recently provided additional guidance related to the forgiveness of loans under the Paycheck Protection Program (PPP). On May 15, 2020, the SBA released the PPP Loan Forgiveness Application (the Application) for borrowers to Continue Reading
The Paycheck Protection Program “Necessity Certification” — The Review, Safe Harbor and Potential Penalties
The Bottom Line On May 13, 2020 the Small Business Administration (the SBA) updated its guidance related to the “Necessity Certification” required to be made in connection with a Paycheck Protection Program (PPP) loan application. The Necessity Certification requires that each applicant Continue Reading
Paycheck Protection Program and Health Care Enhancement Act to Appropriate Additional Funds for Small Business Loans
The Bottom Line President Trump signed the Paycheck Protection Program and Health Care Enhancement Act (PPPHCE Act) into law on April 24, 2020 to infuse approximately an additional $484 billion of stimulus funds into the economy in response to the coronavirus pandemic (COVID-19). The PPPHCE Continue Reading
Coronavirus Aid, Relief and Economic Security Act: What You Need to Know
Update Since this alert was first published there have been updates to the Paycheck Protection Program addressing what the new program covers and how small businesses can participate. To review the latest information, please consult our COVID-19 Paycheck Protection Program Updates FAQs. The Continue Reading
U.S. Federal Government Proposes Various Changes to SBA Loan Programs to Assist Small Businesses Affected by Coronavirus
The Bottom Line In light of the economic impact of the COVID-19 pandemic, the federal government has taken steps to expand the availability of, and streamline the process for, obtaining loans administered by the U.S. Small Business Administration (SBA). In addition, further changes are expected Continue Reading