On March 27, 2020, the President signed the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). On April 24, 2020, the President signed the Paycheck Protection Program and Health Care Enhancement Act which provided additional funding. On June 5, 2020, the President signed the Paycheck Protection Program Flexibility Act of 2020
SBA Updates its FAQ Regarding Good Faith Certification
By Blane Clark, Linda Clark & Dean Cazenave on
Posted in Business and Corporate, COVID-19
The Small Business Administration (“SBA”) issued an update to its “Frequently Asked Questions for Lenders and Borrowers for the Paycheck Protection Program,” adding question #46 and the response, which is recited below. For PPP loans of less than $2 million, the borrower will be “deemed to have made the required certification concerning the necessity of…
CARES Act Offers Much Needed Hope to Small Businesses
By Dean Cazenave & Blane Clark on
Posted in Business and Corporate, COVID-19
Keenly aware of the enormous impact COVID-19 is having on small businesses throughout the country, in response, the Congress approved and on March 27, 2020, the President signed the “Coronavirus Aid, Relief, and Economic Security Act” (the “CARES Act”). The CARES Act is intended, in part, to provide small businesses some much needed…
Business Disaster Loans: Assistance for Uninsured or Under-insured Losses
By Carrie Tournillon on
In the aftermath of the floods that devastated southeastern Louisiana, many businesses will be in need of financial assistance for uninsured or under-insured losses. The U.S. Small Business Administration (“SBA”) offers financial assistance to businesses in declared disaster areas through low-interest, long-terms loans.
Business Physical Disaster Loans. Businesses of all sizes, as well as private,…