On December 21, 2020, Congress passed a $900 billion aid package to help address economic hardships wrought by COVID-19.
As set forth in the CARES Act, a substantial portion of monies borrowed under the Paycheck Protection Program (PPP) may be eligible for forgiveness.
On May 15, 2020, the Small Business Administration (SBA) published a form of the loan forgiveness application for borrowers of Paycheck Protection Program (PPP) loans under the CARES Act.
On May 4, 2020, in response to the tremendous economic uncertainty and ensuing securities market downturn resulting from COVID-19, the Securities and Exchange Commission approved effectively immediately Nasdaq Listing Rule 5636T providing a temporary exception from Nasdaq’s shareholder ...
On May 4, 2020, three Paycheck Protection Program (PPP) borrowers that received $750,000 in first-round funding sued the Small Business Administration (SBA) and the Treasury Department in the U.S. District Court, Central District of California.
On April 30, the Federal Reserve Board, after receiving more than 2,200 letters in response to a request for feedback on its Main Street Lending Program, announced an expansion of the scope of and eligibility for the program.
On April 9, the Federal Reserve took the following actions to provide up to an additional $2.3 trillion in economic aid to support the economy during the coronavirus pandemic.
On April 2, 2020 and April 4, 2020, the Small Business Administration (SBA) issued unusual interim final rules (the Rules) providing further detail regarding Paycheck Protection Program loans under the CARES Act. The Rules will take effect immediately upon publication in the Federal ...
The Treasury Department released additional information today regarding the Paycheck Protection Program that has been authorized under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
On March 27, 2020, President Donald Trump signed into law the CARES Act, an approximately $2 trillion stimulus package to mitigate the adverse economic effects of the COVID-19 pandemic.