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SBA Publishes Loan Forgiveness Interim Final Rule

On May 22, the Small Business Administration published its long-awaited Interim Final Rule regarding loan forgiveness requirements (IFR) for the Paycheck Protection Program. The new IFR confirms several key terms included in the Loan Forgiveness Application and also provides some additional guidance. Click here for a summary of the forgiveness guidance as set forth in […]

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SBA Publishes Loan Forgiveness Application for Paycheck Protection Program

On May 15, the Small Business Administration (SBA) published its long-awaited Loan Forgiveness Application and Instructions for Borrowers (Application). The Application clarified certain forgiveness rules and calculations for the Paycheck Protection Program, although there remain several open issues that we expect the SBA to continue to clarify through an additional Interim Final Rule and FAQs. Click here […]

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Employees’ Refusal to Work Over Coronavirus Concerns

As a result of the COVID-19 pandemic, most businesses were faced with making difficult decisions regarding their workforce. The U.S. Bureau of Labor Statistics reported that, in April, the unemployment rate rose to 14.7 percent totaling 23.1 million unemployed. While the number of new unemployment claims appears to be dropping, for the week ending May 2, 2020, […]