By: Bruce Sattin Many small business owners only have experience in applying for a home mortgage or car loan. Business loans are quite different, and the process in applying and obtaining approval requires much preparation. Banks have separate divisions that process and approve business loans, and the loan officers that handle business loans usually [...]
By: Dan Sweetser On May 13, 2021, Judge Kenneth Chu of the National Labor Relations Board (“NLRB”) Division of Judges entered a verdict in favor of a large medical testing company represented by Partner Dan Sweetser. The complaint alleged that Dan’s client discharged a former employee in retaliation for soliciting co-workers to join a [...]
By: Dan SweetserAs many employers begin calling their employees back to the workplace, there are questions surrounding vaccination requirements. The New Jersey Department of Labor (NJDOL) declared that New Jersey employers can require employees to get the COVID-19 vaccine in order to work, unless the employee cannot get the vaccine because of (1) a disability, (2) their [...]
By: Scott Borsack We are 14 months into the pandemic and though I am neither a scientist nor medical doctor, there seems to be a glimmer of hope that we may be approaching the corner on this virus. In the time that the economy has labored under the restrictions adopted by governmental authorities at [...]
By: Scott Borsack Late in the afternoon on March 30, 2021, after an overwhelming vote of approval by the United States Senate, President Biden signed the Paycheck Protection Program Extension Act which grants applicants an additional 60 days to May 31, 2021 to apply for a second round Paycheck Protection Program loan. This legislation [...]
By: Scott Borsack The second round of the Paycheck Protection Program, as created by Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act is due to close on March 31, 2021, which is next week. The United States House of Representatives last week passed a bill which would extend the application period to [...]
By: Scott Borsack Almost on cue, the SBA released an announcement over the weekend indicating that those loans that have completed the forgiveness process where the Lender recovered the amount of an EIDL grant will be subject to further processing. The SBA is supposed to “automatically remit a reconciliation payment to the PPP lender [...]
By: Scott Borsack As the COVID relief measure makes its way through Congress (the House passed the legislation at 9:20 PM on Monday) heading to certain passage in the Senate and signature by the President, we are finding plenty to cheer about in the Paycheck Protection Program provisions of the more than 5,500 pages [...]
By: Scott Borsack On December 20, 2020, leaders in the House and Senate announced that a deal had been reached on additional COVID-19 relief to individuals and businesses. We are breaking down the major changes and what they mean for your business. IRS Policy Reversed – PPP Borrowers May Claim PPP Eligible Expenses as [...]
By: Scott Borsack Late last week the Small Business Administration released additional guidance under the Paycheck Protection Program affecting borrowers with loans of no more than $50,000. The SBA created another forgiveness application form (3508S) for eligible borrowers which exempts them from the potential reductions in the amount of spending eligible for forgiveness. Borrowers [...]
