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Employee Retention Tax Credits: Another Potential Benefit for Economically Challenged Businesses

USA - March 17 2021 After the passage of the CARES Act last year, the clear focus of small businesses was on the Paycheck Protection Program (the “PPP”). A slightly less…

Joshua E. French, Mary Martin

PPP Part II - An Early Present to Small Businesses

USA - December 22 2020 Congress has passed the long-awaited bipartisan stimulus package on December 21, 2020 which is expected to be signed by the President. Included in…

Joshua E. French, Michael K. Krebs, John G. Loughnane, Melissa Sampson McMorrow, Stephen J. Patterson

PPP: SBA Provides Process for a Change of Ownership

USA - October 6 2020 On October 2, 2020, the SBA provided notice to PPP lenders regarding the process by which PPP borrowers may undertake a “change of ownership” while a…

Joshua E. French, Elizabeth S. Myers

Important PPP Clarifications on Owner-Employee Compensation Rules and Rent Forgiveness

USA - August 26 2020 With many PPP borrowers now working their way through the intricacies of the forgiveness calculations and related analysis, the SBA and Treasury…

Joshua E. French, Elizabeth S. Myers

Revised PPP Loan Forgiveness Applications - Two for the Price of One

USA - June 18 2020 On June 16, 2020, the SBA released a revised form of Loan Forgiveness Application, which incorporates the changes provided in the PPP Flexibility Act…

Joshua E. French, Kate Henry, Elizabeth S. Myers