News & Events

COVID-19

COVID-19 Funding Assistance Update 6.18.20

Main Street Lending Program (“MSLP”):  The MSLP was first introduced back in April and there was a lot of initial press around the program as an alternative to the PPP for larger companies.  Actually rolling it out to the public,…
Paul McQuade
June 18, 2020
COVID-19

COVID-19 Funding Assistance Update 6.17.20

New Interim Final Ruling: The SBA released yet another Interim Final Ruling which provides for a variety of administrative updates/corrections, however there are a few notable clarifications as follows: The SBA confirms that the maximum forgivable salary for non-owner employees…
Paul McQuade
June 17, 2020
COVID-19

COVID-19 Payment Protection Program Update 6.11.20

60/40 “cliff” rule addressed:  As we previously noted, the PPP Flexibility Act. changed the 75%/25% rule to a 60%/40% rule, allowing companies to realize a greater benefit from the non-payroll costs they incurred during their covered period.  However, the law…
Paul McQuade
June 11, 2020