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Corporate Finance/Securities

Jun 10, 2020

Government Provides Relief in the Paycheck Protection Program Flexibility Act

Although brief in length, the Paycheck Protection Program Flexibility Act (the “Act”) that was signed into law by President Trump on June 5, 2020, clarifies how borrowers can use Payment Protection Program (“PPP”) loans made pursuant to the CARES Act and grants borrowers much-needed flexibility in the requirements for PPP forgiveness.» Read More

May 29, 2020

House Passes Bill to Relax PPP Forgiveness Conditions

The U.S. House of Representatives passed a bill on May 28, 2020, to relax the terms and conditions for forgiveness of Paycheck Protection Program (PPP) loans, just before the eight-week covered periods for early borrowers are coming to an end. The Paycheck Protection Flexibility Act, H.R.» Read More

Apr 27, 2020

Inside the CARES Act: Paycheck II the Paycheck Protection Program and Health Care Enhancement Act

For those who have been following the latest with the Paycheck Protection Program (PPP) loans, it was a busy end to last week! We’ve previously issued an analysis of the CARES Act of 2020 through our “Inside the CARES Act” series on the Norris McLaughlin Biz Law Blog, but this past week saw the passage of the Paycheck Protection Program and Health Care Enhancement Act (Paycheck II), as well as updated FAQs from the Treasury Department and additional guidance from the Small Business Administration (SBA) in another Interim Final Rule issued on Friday, April 24.» Read More

Apr 22, 2020

Do Your Due Diligence: U.S. Securities and Exchange Commission Warns Main Street Investors About COVID-19-Related Fraud

On April 10, 2020, the U.S. Securities and Exchange Commission (SEC) warned Main Street investors about COVID-19-related fraud. The SEC continues in its efforts to ferret out questionable capital raising initiatives as can be shown through an April 21, 2020, litigation release pertaining to an alleged fraud involving investments in marijuana-related companiesRead More

Apr 13, 2020

Small Business Reorganization Act: The Vaccine for Small Businesses Suffering From the COVID-19 Pandemic

Timing is everything. On February 19, 2020, the Small Business Reorganization Act (SBRA), which added a new subchapter to the United States Bankruptcy Code, became effective. Commonly referred to as Subchapter V, the SBRA was enacted in an effort to reduce the cost and expense of small business bankruptcy reorganizations.» Read More

Apr 08, 2020

Small Business and Consumer Debt Collection Emergency Relief Act of 2020

In response to the COVID-19 pandemic, Sen. Sherrod Brown (D-OH) introduced Senate Bill No. 3565 entitled “Small Business and Consumer Debt Collection Emergency Relief Act of 2020” (the “Bill”), which proposes several far-reaching amendments to the Fair Debt Collections Practices Act, 15 U.S.C.» Read More

Apr 01, 2020

Inside the CARES Act: COVID-19 Update – SBA Releases Sample Application for Paycheck Protection Program

Businesses actively awaiting guidance from the Small Business Administration (SBA) regarding the process for application to the Coronavirus Aid, Relief, and Economic Security (CARES) Act Paycheck Protection Program were given some guidance yesterday evening. The SBA released a Sample Application for the Paycheck Protection ProgramRead More

Mar 31, 2020

Inside the CARES Act: Update—Applying for a COVID-19-Related SBA Loan?

As a part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the Small Business Administration (SBA) loan program has been expanded for qualifying businesses and qualifying self-employed individuals. The CARES Act’s “Paycheck Protection Program” provides 100% federally backed SBA loans to cover operational costs like rent, payroll, employee health benefits, interest on other debt obligations, insurance, and utilities, among others.» Read More

Mar 28, 2020

Inside the CARES Act: Loan Payment Subsidies for Certain Loans as Part of the CARES Act of 2020

In addition to the expansion of the Small Business Act’s (“SBA”) business loan program and the SBA’s disaster loan program, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) authorizes loan payment subsidies for certain loans.» Read More