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Recent Posts
- COVID-19 Resource Guide
- New York’s Executive Orders 202.8 and 202.28 Should Not Stop Commercial Lease Enforcement, Though New York City Legislation Sets Limitations on Landlords Seeking Recovery From Personal Guarantors for Tenant Defaults
- PPP Loan Forgiveness Application Revised
- COVID 19 Health and Welfare Benefit Plans Update
- The Paycheck Protection Program Flexibility Act
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- The Paycheck Protection Program Flexibility Act of 2020 (H.R. 7010)
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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 3 posts in Employee Practices.
Main Street Loan Facilities (June 8th Update)
On June 8, 2020, the Federal Reserve released additional guidance on the Main Street Lending Program, completely replacing earlier set of FAQs (April 30, 2020 and May 27, 2020) with new FAQs and revised term sheets. Read More ›
The Paycheck Protection Program Flexibility Act of 2020 (H.R. 7010)
On June 5, 2020 (the “Enactment Date”), the President signed the Paycheck Protection Program Flexibility Act of 2020 (the “Flex Act”), after the Senate approved the House bill without change. While the Flex Act makes welcome improvements to the Paycheck Protection Program (“PPP”), implementing administrative guidance remains necessary. On June 8, the SBA issued a press release clarifying a key Flex Act provision on loan forgiveness and outlining its initial regulatory priorities (the “Press Release”). Read More ›
Paycheck Protection Program Loans Capped at $20 Million per Single Corporate Group
In new guidance issued on April 30, 2020, the Small Business Administration (“SBA”) stated that businesses that are part of a “single corporate group” may not receive Paycheck Protection Program (”PPP”) loans exceeding $20 million in the aggregate for the “single corporate group.” This cap is effective immediately with respect to any PPP loan that has not been fully disbursed by April 30, 2020. This client alert explains the new guidelines and related considerations. Read More ›