By: Scott Borsack In the wee hours of the morning of June 11, 2020 the SBA released interim final guidance revising the first guidance that they issued following the enactment of the CARES Act. This was the first of what likely will be several revisions to guidance that resulted from the passage of the… Continue Reading SBA Releases Guidance Following PPP Flexibility Act
By: Scott Borsack The Paycheck Protection Program Flexibility Act is one step away from becoming law. Without much fanfare or warning the Act was passed by voice vote In the US Senate without objection and now heads to the other end of Pennsylvania Avenue for the signature of the President. For some this will… Continue Reading Paycheck Protection Program Flexibility Act Headed to the President’s Desk
By: Scott Borsack Yesterday the US House of Representatives overwhelmingly passed HR 7010, the Paycheck Protection Program Flexibility Act of 2020 (by a vote of 417 to 1) which if approved by the Senate and signed by the President will make significant adjustments to the Paycheck Protection Program. Specifically the bill does the following:… Continue Reading U.S. House of Representatives Passes PPP Flexibility Act
By: Scott Borsack As the late nightly newscasts were running through their copy one last time before going on the air Friday evening, the SBA released more guidance to start your holiday weekend. Most of it was helpful. Here are some of the highlights: 1. Where there is both a reduction in wages and… Continue Reading SBA Releases Additional Forgiveness Guidance
By: Scott Borsack The SBA has released its first version of the application for loan forgiveness. You can download a copy of the application from our website by clicking here. The instructions for the application have provided some additional information on the forgiveness process and interpretation of expenses eligible for forgiveness. This is just the… Continue Reading SBA Releases PPP Loan Forgiveness Application
By: Scott Borsack Less than an hour ago the SBA released “guidance” on the eligibility issue. Originally borrowers were given until May 7, 2020 to satisfy themselves that they met the standard that “current economic uncertainly makes this loan request necessary to support current operations…” SBA then extended the deadline to return funds with… Continue Reading New PPP Eligibility Guidance Released by SBA
By: Scott Borsack Sometime before May 14, 2020 the Small Business Administration (the “SBA”) will issue new rules which some Paycheck Protection Program (“PPP”) borrowers will have to act upon before the clock strikes midnight and the calendar turns to May 15, 2020. Specifically, the SBA will be speaking to whether borrowers needed their… Continue Reading SBA Poised to Change PPP Eligibility Rules before May 14, 2020
By: Scott Borsack On April 23, 2020, the Department of Treasury announced that Ruth’s Chris Steak House was returning their Paycheck Protection Program (PPP) loan proceeds and that further guidance would be released on qualification for the loan by large companies with adequate courses of liquidity to support the ongoing operations of a business.… Continue Reading PPP Loans to Large Companies Cause Backlash & Questions
By: Jeffrey Hall In a decision approved for publication, the Appellate Division decided the case of Pareja v. Princeton International Properties,___N.J. Super___ DOCKET NO. A-2111-18T3 (App. Div. April 9, 2020). This decision lays to rest the long-standing notion that the so-called “ongoing storm rule” protected commercial property owners from liability from slip-and-fall claims that… Continue Reading Ongoing Storm Rule Banished From New Jersey
By: Michael Brottman On March 16, 2020, Governor Murphy signed Executive Order 104, which implemented aggressive social distancing measures to mitigate the spread of COVID-19 in New Jersey. Businesses or institutions deemed essential were excluded from Executive Order 104 and were permitted to continue operating. Since that time employees of grocery stores, pharmacies, gas… Continue Reading Can I Get NJ Worker’s Comp Benefits if I Contract COVID-19?
