Today, the Paycheck Protection Program Flexibility Act (“PPPFA”) became effective and it amends certain portions of the Paycheck Protection Program (“PPP”). Below is a summary of the key provisions and our takeaways: The “covered period” for purposes of PPP loan...
On Friday, May 22, the Small Business Administration ("SBA") issued long-awaited guidance on PPP loan forgiveness as well as guidance regarding its loan review procedures and borrower and lender responsibilities. The new guidance follows the recent release of the PPP...
On May 20, the US Department of Health and Human Services ("HHS") issued a press release reminding that a provider has until June 3, 2020, to submit revenue information to support receiving an additional payment from the Provider Relief Fund's $50 billion General...
Over the weekend, the Small Business Administration ("SBA") released the application for borrowers to apply for forgiveness of their Paycheck Protection Program ("PPP") loan. The application can be found here. At this time, the SBA has not updated its FAQ or issued...
Earlier today, we sent you an update on the recent PPP loan certification guidance. This evening, the Small Business Administration (“SBA”) issued FAQ #47, which extends the PPP loan repayment safe harbor date to May 18, 2020. The extension is automatic and you do...
On May 3, we alerted our clients to FAQ 31 and FAQ 37 issued by the Small Business Administration (“SBA”) which raised important questions regarding a borrower’s required good-faith certification in connection with their PPP loan application that “[c]urrent economic...
The U.S. Department of Labor ("DOL") and the Equal Employment Opportunity Commission ("EEOC") have issued updated regulatory guidance related to COVID-19. DOL Issues New Q&A Guidance on FFCRA As businesses begin the process of re-opening, DOL has issued new...
HHS has extended the deadline for healthcare providers to attest to receipt of payments from the Provider Relief Fund and accept the Terms and Conditions. Providers will now have 45 days, increased from 30 days, from the date they receive a payment to attest and...
Two days ago, we sent you an update on the recent PPP loan certification changes. Today, the Small Business Administration (“SBA”) issued FAQ 43 which extends the PPP loan repayment safe harbor date to May 14, 2020. The extension is automatic and you do not need to...
Recently, HHS Office of Civil Rights ("OCR") reported that it has seen a sharp increase in cyber-attacks related to the COVID-19 crisis. Whether for financial gain or other motives, hackers have attempted to capitalize upon increased uncertainty and a sudden shift to...
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