Video replays of the webinar, “State of the Workplace in 2021: Reopening in a Partially Vaccinated Environment and the New Administration,” are available.
Webinar: State of the Workplace in 2021: Reopening in a Partially Vaccinated Environment and the New Administration
Duane Morris will hold a webinar event, “State of the Workplace in 2021: Reopening in a Partially Vaccinated Environment and the New Administration,” on Wednesday, May 19, 2021, from 12:30 p.m. to 5:00 p.m. Eastern.
Please visit the event website for more information and to register.
Economic Aid Act Brings Further Changes to Paycheck Protection Program and Loan Forgiveness Time Frames
On January 19, 2021, the Treasury Department and Small Business Administration (SBA) released an interim final rule discussing changes to the Paycheck Protection Program (PPP) loan forgiveness requirements and loan review process as amended by the Economic Aid Act signed into law on December 27, 2020. The interim final rule discusses a variety of topics, primarily summarizing changes made to the PPP loan forgiveness requirements and loan review process and restating the regulations issued pursuant to the CARES Act and Paycheck Protection Program Flexibility Act.
To read the full text of this Alert, which discusses the key takeaways from the interim final rule and provides a list of the changes that will affect both PPP borrowers and PPP lenders following passage of the Economic Aid Act, please visit the firm website.
Small Business Administration Releases New FAQ on Loan Forgiveness Review
On December 9, 2020, the Small Business Administration (SBA) added Question 53 to its Frequently Asked Questions (FAQs) document. The new question provides further insight into the SBA’s Paycheck Protection Program (PPP) loan forgiveness review process, especially for borrowers with PPP loans of at least $2 million and new Forms 3509 and 3510, and expands on the good-faith certification discussed in Question 46.
To read the full text of this Duane Morris Alert, which summarizes the key points from the update to the FAQs, please visit the firm website.
Another COVID-19 Business Interruption Insurance Lawsuit Dismissed
The District of New Jersey granted a motion to dismiss a restaurant owner’s purported class action lawsuit seeking business interruption coverage by analyzing: (1) the New Jersey Governor’s Executive Order and (2) the policy language, in a commercial all-risk property damage policy, that excluded coverage for losses covered by viruses.
To read the full text of this post by Duane Morris partner Sheila Raftery Wiggins, please visit the Duane Morris Insurance Blog.
New Jersey Announces $60M of Additional Small Business Grants for COVID Relief
On November 11, 2020, Gov. Phil Murphy announced a commitment of at least $60 million in additional relief grants under Phase 3 of the New Jersey Economic Development Authority’s (NJEDA’s) Small Business Emergency Assistance Grant Program (SBEAG).
This funding is in addition to $70 M of funds already allocated for the current phase of the SBEAG program and will enable the NJEDA to fulfill grants for the entire pipeline of eligible businesses that applied for Phase 3 funding prior to the application deadline.
To read the full text of this post by Duane Morris partner Brad Molotsky, please visit the Duane Morris Project Development/Infrastructure/P3 Blog.
New Jersey Announces CARES Act Grant Funds for Small Businesses, Restaurants and Families
On October 13, 2020, Gov. Phil Murphy announced plans to distribute $112 million of the state’s CARES Act money via grants to small businesses and struggling families.
To read the full text of this post by Duane Morris partner Brad Molotsky, please visit the Duane Morris Project Development/Infrastructure/P3 Blog.
$1B of CARES Relief for Small Business in PA Governor Wolf’s Recreational Cannabis Bill
Earlier today, August 25, 2020, Gov. Tom Wolf called on the Pennsylvania legislature to legalize recreational marijuana and use the tax revenue to help small businesses that have been impacted by the COVID-19 pandemic.
According to the Philadelphia Business Journal, Gov. Wolf’s proposal on recreational marijuana was part of a package unveiled to spend the $1 billion remaining out of $3.6 billion CARES Act funding. The Governor called for a range of spending that would include$225 million in forgivable loans and grants to small businesses and another $100 million for restaurants and bars, hospitality and leisure businesses that have taken a big hit since March with business closures and occupancy restrictions. Tax revenue from the sale of recreational marijuana would add to the state’s small business funding and half would go to historically disadvantaged businesses.
To read the full text of this post by Duane Morris partner Brad Molotsky, please visit the Duane Morris Project Development/Infrastructure/P3 Blog.
Small Business Administration Releases Guidance on the Appeals Process for Paycheck Protection Program Loans
On August 11, 2020, the Treasury Department and Small Business Administration (SBA) released an interim final rule that details the appeals process for Paycheck Protection Program (PPP) loan borrowers for SBA loan review decisions regarding eligibility and/or forgiveness of a PPP loan. The interim final rule builds upon prior guidance released by the SBA on the review process for lenders and the SBA of PPP loans.
To read the full text of this Duane Morris Alert, please visit the firm website.
New Jersey Announces Small and Micro Business PPE Access Program
On August 11, Governor Murphy announced the first phase of the New Jersey Small and Micro Business PPE Access Program . The goal of the PPE Program is to provide small businesses and nonprofits with access to the fairly priced personal protective equipment necessary to facilitate safe working conditions during the COVID-19 pandemic.
To read the full text of this post by Duane Morris partner Brad Molotsky, please visit the Duane Morris Project Development/Infrastructure/P3 Blog.