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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 8 posts in Payroll Protection Program (PPP).

COVID-19 Resource Guide

A Multi-Disciplinary Compendium of Primary Government Sources and Practical Legal Advice on COVID-19
Olshan COVID-19 Response Team
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PPP Loan Forgiveness Application Revised

On June 16, 2020, the Small Business Administration revised the loan forgiveness application for loans issued under Paycheck Protection Program and issued a new interim final rule, to reflect changes made by the Payroll Protection Program Flexibility Act of 2020.  This blog post outlines important changes in the new guidance. Read More ›

The Paycheck Protection Program Flexibility Act

Stay up to date on recently released guidance and the tools you will need to make sure you properly apply for PPP loan forgiveness. Read More ›

Living with a PPP Loan (Part II)

As the U.S. Small Business Administration and lenders deploy resources from the Paycheck Protection Program ("PPP") businesses owners need to know what they need to do to ensure the loan is forgiven so they are not saddled with unnecessary debt. Stay up to date on recently released guidance and the tools you will need to make sure you properly apply for PPP loan forgiveness.

This PowerPoint presentation will provide an overview of PPP loan forgiveness, documents you will need to prepare, and pitfalls to avoid to ensure your loan is forgiven.  Read More ›

Important Update: SBA Eases Certification Requirements for PPP Loan

In a welcome move, the Small Business Administration ("SBA") issued a new FAQ protecting a borrower under a Paycheck Protection Program (“PPP”) loan from draconian government enforcement if the SBA finds the borrower’s “necessary” certification to be invalid after loan review. Read More ›

Update On PPP Loans - Major Change to Employee Counting Rules and Due Date Extension

The Small Business Administration (“SBA”) issued important new guidance, changing the rules for counting employee towards the 500-employee limit and extending the due date for the repayment of Paycheck Protection Program (“PPP”) loans. This client alert explains the new guidelines and related considerations. 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 ›

Paycheck Protection Program Update – SBA Adds New Restrictions on Access

On April 23, 2020, the Small Business Administration issued new guidance apparently intended to severely restrict access to Paycheck Protection Program (PPP) loans. Although apparently issued in response to large PPP loans made to several publicly traded companies, the new guidance is not limited to public companies and applies to all PPP loan applicants. This client alert explains the new guidelines and related considerations. Read More ›

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