Lenders

SBA Releases PPP Loan Forgiveness Application and Instructions: Lays Out Calculation Process and Clarifies Some Open Questions

By: Lawrence J. Glusman 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…

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Stay-At-Home and Safer At Home Orders Impose Restrictions on Residential Landlords and Rental Property Managers

By: Daniel A. Kaminsky On March 23, 2020, the City of Milwaukee Health Department published the Order of the City of Milwaukee Commissioner of Health Imposing A City-Wide “Stay-At-Home” Requirement To Mitigate The Spread of COVID-19 (the “City of Milwaukee Order”)[1].  On March 24, 2020, the State of Wisconsin Department of Health Services published Emergency…

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Landlords and Lenders Encouraged to Consider Creative Options (Updated March 27, 2020)

By: Sherry D. Coley and Tiffany E. Woelfel As more tenants, both residential and commercial, face financial difficulties during the COVID-19 crisis, landlords should try to work with tenants and consider creative options since traditional remedies, such as evictions, are unavailable and may remain so for some time. On March 18, 2020, Milwaukee Circuit Court…

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DFI Licensed Lenders and Payday Lenders Should Be Cautious During COVID-19 Crisis

By: Sherry D. Coley and Tiffany E. Woelfel On March 18, 2020, the Wisconsin Department of Financial Institutions (“DFI”) issued emergency guidance to licensed lenders and payday lenders cautioning them from increasing customary interest rates, fees, or any costs of borrowing in response to the COVID-19 crisis. DFI explicitly warned that increases will be monitored…

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