Firm Insights

Paycheck Protection Flexibility Act: Changes to the Paycheck Protection Program

By Michelle F. Schwerin / June 5, 2020 / Comments Off on Paycheck Protection Flexibility Act: Changes to the Paycheck Protection Program

On June 5, 2020, President Trump signed into law the Paycheck Protection Program Flexibility Act (the “Act”), to amend sections of the Paycheck Protection Program (“PPP”). The Act: Prospectively extends PPP loan maturity from two years to five (lenders and borrowers may mutually agree to modify the terms of existing loans to a five-year maturity); Extends the…

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Three Critical Aspects of Personal Guarantees on Business Loans

By R. Thomas Avery / June 4, 2020 / Comments Off on Three Critical Aspects of Personal Guarantees on Business Loans

Overview Business owners are often required to sign personal guarantees on business loans.  Lenders may need additional security on the loan or may just want the owner to have personal “skin in the game.” A personal guarantee, in this circumstance, is a legal contract made by a business owner agreeing to become liable using his…

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What Do Early COVID-19 Lawsuits Teach Employers about Necessary Return to Work Protocols? How Can Employers Avoid Liability?

By Traci Dale Pupillo / May 29, 2020 / Comments Off on What Do Early COVID-19 Lawsuits Teach Employers about Necessary Return to Work Protocols? How Can Employers Avoid Liability?

It is widely predicted that COVID-19 related lawsuits will flood the court systems in the coming two to three years and that those cases may continue to be litigated over the next decade. Indeed, depending on the source, it appears that almost 1,000 COVID-19 related cases have already been filed in state and federal courts.…

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