COVID – Business

With Great Funding Comes Great Responsibility: Oversight and Enforcement Provisions within the CARES Act

On April 21, 2020, Treasury Secretary Steve Mnuchin, expressed concern that large companies – not the intended Paycheck Protection Program (“PPP”) participants – had applied for and received PPP loans. He unequivocally showed that the government will closely scrutinize representations made by PPP Loan borrowers…
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Congress Expresses Additional CARE(s) for Small Businesses Suffering Economic Injury

In a blog post we published last week, we discussed the U.S. Small Business Administration’s (the “SBA”) issued revised criteria for states (or territories) seeking an “economic injury declaration” related to COVID-19, which were released on Tuesday, March 17, 2020. The SBA expected the revised criteria would…
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CARES Act: Paycheck Protection Program Provides Small Businesses an Opportunity for Relief

The recently passed Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) has important provisions for small businesses under what is called the “Paycheck Protection Program,” which addresses temporary changes to 7(a) loans  [P.L. 116-136.] Under the program, the Small Business Administration (“SBA”) will make…
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