On January 20, 2021, the New York Department of Labor issued new guidance regarding the use of NY COVID-19 sick leave. This new guidance supplements prior guidance on the application of COVID-19 sick leave and all prior guidance remains in effect. The guidance provides the following information: (1)  An employee who returns to work after a period of mandatory quarantine or isolation does not have to be tested for COVID-19 before returning to work, except for nursing home staff.  [...]


How to Calculate Maximum Loan Amounts For First Draw PPP Loans and Second Draw PPP Loans and What Documentation to Provide – By Business Type The SBA issued guidance so the following business types may more accurately calculate their maximum loan amounts for First Draw PPP Loans and Second Draw PPP Loans: Self-employed, no employees Self-employed, with employees Self-employed farmer or rancher Partnerships S Corporations and C Corporations Nonprofit Organizations Nonprofit [...]


PPP Loan Re-Opening Dates, Overview of PPP Draw Loans and Guidance on Accessing Capital for Minority, Underserved, Veteran and Women-Owned Business Concerns PPP Loan Re-Opening Dates On January 8, 2021, the Small Business Administration (SBA) announced that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. To promote access to capital, initially only community financial institutions will be able to make First [...]


On January 6, 2021, the Small Business Administration issued an Interim Final Rule on the Paycheck Protection Program as Amended by Economic Aid Act.  A link to the Interim Final Rule is located here: https://home.treasury.gov/system/files/136/PPP-IFR-Paycheck-Protection-Program-as-Amended-by-Economic-Aid-Act.pdf The Interim Final Rule includes information on the following topics: What Do Borrowers Need to Know and Do What businesses, organizations, and individuals are eligible What [...]


Levene Gouldin & Thompson, LLP issued an article called, “COVID Stimulus Bill and EEOC Vaccine Guidance” which included a general overview of Second Draw PPP Loans.  A link to that article is located here: https://www.lgtlegal.com/news/COVID-Stimulus-Bill-and-EEOC-Vaccine-Guidance-_326-news.htm On January 6, 2021, the Small Business Administration issued an Interim Final Rule on Second Draw Loans.  A link to the Interim Final Rule is located here: [...]


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