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PPP Loan Forgiveness Applications Available

Late in the evening on Tuesday, June 16, 2020, the SBA published a revised Paycheck Protection Program Loan Forgiveness Application (“Application”) and the Paycheck Protection Program EZ Loan Forgiveness Application (“EZ Application”) and corresponding instructions. These replace the forgiveness…

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PPP and PPPFA Additional Guidance:  No Cliff

The SBA issued additional guidance late in the day on June 10, 2020 through a further Interim Final Rule (“June 10 IFR”) that revises its First Interim Final Rule posted on April 2, 2020 to bring it into line with the changes authorized by the Paycheck Protection Program Flexibility Act (“PPPFA”)…

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Fed's Main Street Lending Program Expanded

On June 8, 2020, the Federal Reserve Board (the “Fed”) issued a press release indicating that it will expand the terms of the Main Street Lending Program to allow more small and medium-sized businesses to apply.

The changes to the program include: lowering the minimum loan size for certain loans…

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SBA Forgiveness Application

On Friday, May 15, 2020, the SBA published the Paycheck Protection Program Loan Forgiveness Application (“Application”) and Instructions. To access the Application and instructions please click here.

The Application provides much needed guidance on the process by which borrowers will ultimately…

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Further Relief for Indiana Businesses During the Time of COVID-19: Remote Meetings and Suspending Five-Year Limit on Reinstatements

Governor Eric Holcomb recently signed Executive Order 20-23, which provides further relief for Indiana businesses in light of COVID-19.

A.    Remote Annual Meetings for Corporations and Meetings for Nonprofit Organizations

Remote annual meetings of shareholders are now authorized during the…

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IRS Provides Updated Guidance Related to Recent COVID-19 Releases

Guidance continues to be issued by various governmental agencies regarding the Paycheck Protection Program (the “PPP”) established by the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”).  On April 30, 2020, the Internal Revenue Service (“IRS”) issued new and supplementary…

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