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: [...]

The FFCRA’s emergency paid sick leave and emergency Family and Medical Leave Expansion Act provisions expired on December 31, 2020 and were not extended by the recently enacted stimulus bill, the 2021 Consolidated Appropriations Act (CAA) Under the CAA, covered employers—which generally includes employers with fewer than 500 employees—now have the option to provide leave to their employees under the FFCRA framework Covered employers opting to provide FFCRA leave are [...]

STIMULUS BILL On December 27, 2020, the President of the United States signed the Consolidated Appropriations Act, 2021, which contains a number of COVID-19 stimulus provisions Direct Stimulus Payments Eligible individuals will receive an additional $600 direct stimulus payment (or $1,200 in the case of eligible individuals filing a joint return) plus an additional $600 for each qualifying child Reductions in the amount for this round of stimulus payments will occur if the taxpayer’s [...]