Firm Insights

Paycheck Protection Program – Treasury FAQ #31: Am I Really Supposed To Give My Money Back?

By Michelle F. Schwerin / May 1, 2020 / Comments Off on Paycheck Protection Program – Treasury FAQ #31: Am I Really Supposed To Give My Money Back?

This article was published on April 30th and is current as of that date. On May 5, 2020, the Treasury and SBA issued FAQ 43, which extends the repayment date to May 14 for borrowers wishing to fall within the “safe harbor” and that the SBA intends to issue additional guidance concerning certification prior to…

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Mid-Sized Businesses, The CARES Act Care(s) About You!

By Michelle F. Schwerin / April 30, 2020 / Comments Off on Mid-Sized Businesses, The CARES Act Care(s) About You!

The information on this post is current as of 4/29/2020. After being signed into law on March 27, 2020, much of the focus surrounding the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) has centered around the Paycheck Protection Program and the Economic Injury Disaster Loan and Emergency Grant. Both programs are designed…

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With Great Funding Comes Great Responsibility: Oversight and Enforcement Provisions within the CARES Act

By Michelle F. Schwerin / April 28, 2020 / Comments Off on With Great Funding Comes Great Responsibility: Oversight and Enforcement Provisions within the CARES Act

On April 21, 2020, Treasury Secretary Steve Mnuchin, expressed concern that large companies – not the intended Paycheck Protection Program (“PPP”) participants – had applied for and received PPP loans. He unequivocally showed that the government will closely scrutinize representations made by PPP Loan borrowers as they apply for loan forgiveness and that the government…

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