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Early recipients of the Paycheck Protection Program (PPP) are now at the half way point of the 8 week use of funds period.   The SBA has just released its first version of the Paycheck Protection Program Loan Forgiveness Application.  The application includes some needed clarifications,...

How will SBA review borrowers’ required good-faith certification concerning the necessity of their loan request? Answer: When submitting a PPP application, all borrowers must certify in good faith that “[c]urrent economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.” SBA, in consultation...

COVID-19 Employee Assistance: What Else Can Businesses Do To Help Their Employees? Employer-Provided Tax-Free Disaster Relief Benefits On March 13, 2020, President Trump enacted the Robert T. Stafford Disaster Relief and Emergency Assistance Act, authorizing him to declare the COVID-19 epidemic a national emergency. By doing so, he...

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