The COVID pandemic has given rise to efforts by lessees of retail space to seek to defer rent payments in…
Client Alert – SBA Unveils “EZ” Forgiveness Application Form – June 19, 2020
Late on Wednesday June 17, the Small Business Administration (the “SBA”) released additional guidance in relation to the Paycheck Protection…
Client Alert: House Passes Bill Easing Restrictions on PPP Loan Forgiveness – May 30, 2020
On May 28, 2020, by a vote of 417 to 1, the U.S. House of Representatives approved the Paycheck Protection…
Client Alert: SBA Releases Formal Rules Regarding PPP Loan Forgiveness – May 25, 2020
On May 23, 2020, the SBA released a pair of interim final rules relating to the Paycheck Protection Program (the…
Client Alert: Proposed Legislative Amendments to the Paycheck Protection Program – May 21, 2020
In the coming days, the U.S. House of Representatives is expected to vote on a bill (the “Proposed Bill”) addressing…
Client Alert: Interfacing PPP Loans with Existing Credit/Loan Agreements – May 19, 2020
Many credit/loan agreements contain express prohibitions against borrowers incurring additional indebtedness. These agreements often also include financial covenants that could…
Client Alert: PPP Loan Forgiveness Calculator Issued by Treasury – May 16, 2020
The Paycheck Protection Program (PPP) is an unprecedented and fascinating example of colossal and continuously-changing fiscal policy. Until now the…
Client Alert: The Good Guy Guaranty – The Benefits and Pitfalls – May 14, 2020
The “good guy guaranty,” is a unique New York agreement designed to address the delays that landlords experience in attempting…
Client Alert: Paycheck Protection Program Update: Continued Guidance on “Necessity” Certification – May 14, 2020
On May 13, 2020, the Small Business Administration (SBA) updated the Paycheck Protection Program (PPP) Loans Frequently Asked Questions (FAQs)…
Client Alert: Federal Reserve Board Expands the Main Street Lending Program – May 4, 2020
On April 30, 2020, the Federal Reserve Board announced that it is expanding the scope of its new lending program…