Click here to access the on-demand video. Click here to access the powerpoint presentation. The new COVID-19 Relief bill, signed into law on December 27, provides additional economic relief for business owners if you know what to look for. In addition, the new administration will mean more change is on the horizon. What are the immediate opportunities for your business, and what will the...
On June 3, 2020, the Senate passed H.R. 7010 (previously passed by the House on May 28, 2020) entitled the Paycheck Protection Program Flexibility Act of 2020 (the “PPPFA”). Once signed into law by the President, the PPPFA will amend the CARES Act in several meaningful ways. The highest profile change is to the definition of “covered period” which now shifts from 8 weeks from loan origination to...
On May 15, 2020, the SBA and the Treasury Department released the long-awaited Paycheck Protection Program (PPP) loan forgiveness application and detailed instructions. They also announced that additional regulations and guidance would soon issue to further assist borrowers as they complete their applications, and to assist lenders with their responsibilities. The SBA explained that the...
By: Lawrence J. Glusman Second Round of May 13, 2020 SBA Updates | New PPP FAQ #47 Published 47. Question: An SBA interim final rule posted on May 8, 2020 provided that any borrower who applied for a PPP loan and repays the loan in full by May 14, 2020 will be deemed by SBA to have made the required certification concerning the necessity of the loan request in good faith. Is it possible...
By: Jacqueline L. Messler The Coronavirus Aid, Relief and Economic Security (CARES) Act, signed into law March 27, made cash rebates of up to $1,200 available to 150 million Americans. Shortly after the IRS started sending payments, there were stories of payments being made to deceased taxpayers. Specifically, checks were made payable to the recipient, with “DECD” next to the recipient’s...
By: Lawrence J. Glusman The SBA just issued a brand new FAQ, #43, which grants an automatic 1-week extension to the PPP loan repayment safe harbor until May 14. Borrowers do not need to formally request the extension. The SBA will implement it through a revision to the Interim Final Rule which created the safe harbor. Most notably, the SBA now intends to provide additional guidance on how they...
Click here to view the Webinar On-Demand. Click here to access the PowerPoint Presentation. Even before COVID-19 hit, American businesses averaged less than 28 days of cash on-hand. Economic recovery will depend on businesses and supply chains surviving through better cash flow management. Since April 23, businesses have been scrambling to navigate the ever-changing maze of qualification...
Please scroll to the bottom of the page to view the webinar replay and access the presentation materials. The federal government's $2 trillion economic stimulus bill can help your company survive. But you have to understand NOW what's in it for you and how to apply for funds. This bill is a game changer for many small businesses, but only if you act soon. BizTimes, U.S. Small Business...
*Please scroll to the bottom of the page to view the webinar replay and to access the PowerPoint presentation. Business leaders, interested in what many are referring to as “free money”? Davis|Kuelthau hosted a complimentary webinar for Wisconsin businesses — borrowers and lenders — navigating the emergency loans recently made available through the Coronavirus Aid, Relief, and Economic Security...
By: Joseph S. Heino and Erin E. Kaprelian The United States Patent and Trademark Office (USPTO) announced a temporary waiver of certain timing deadlines in view of the current COVID-19 outbreak. Section 12004(a) of the CARES Act provides the USPTO with the ability to toll, waive, adjust, or modify any deadline under the America Invents Act for the duration of the emergency period, provided that...
