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COVID-19 Legal Resources

Olshan Frome Wolosky LLP is gathering information related to COVID-19 issues and concerns to assist clients in navigating the national and New York states of emergency.

We will continue to prepare updates during this fluid situation. Clients and friends are encouraged to contact us with specific legal or operational questions or issues.

Showing 2 posts in LLC.

PPP Loan Update – SBA Allows LLCs and Partnerships to Seek PPP Loan Increase

Well after the Paycheck Protection Program (PPP) loan window opened, the Small Business Administration (SBA) unexpectedly changed the treatment of limited liability company members and partners, essentially recharacterizing them as employees (instead of self-employed individuals) for PPP loan purposes.  Because this regulatory change came so late in the game, many partnerships and LLCs did not take into account member/partner compensation on their PPP loan applications, causing these early birds to understate their requested loan amount. Read More ›

Liquidity

As businesses in the current environment are looking for ways to conserve or obtain liquidity, we have set forth below some avenues to liquidity, one or more of which might be applicable to your business. Read More ›

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