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Below we’ve summarized recently released information related to the Paycheck Protection Program (PPP) Loans. $20 million Cap on PPP Loan Funds Available to “Corporate Groups” Businesses that are part of a “single corporate group” may receive only up to $20 million of PPP Loan funds in the aggregate. This limitation…

Last week, additional SBA guidance was issued providing additional clarity to the certification all PPP loan applicants must make that “[c]urrent economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.” The new guidance language indicates in part that “Borrowers must make this certification in…

As companies begin to receive funds under the Paycheck Protection Program (PPP) Loans, they should keep in mind certain restrictions and guidelines regarding use of the funds. The funds are permitted to be used only for certain expenses. In addition, in order for a loan recipient to be eligible for…

As businesses face significant challenges and uncertainty in light of the COVID-19 pandemic, KO Law Firm partner Dan Fredrickson recently led a webinar on identifying and managing COVID-19 legal risks. Dan discusses key legal issues that businesses should consider regarding new stimulus measures such as the Families First Coronavirus Response Act…

The SBA indicated yesterday that all Congressionally appropriated funds for the Paycheck Protection Program loans (“PPP Loans”) have now been allocated. What does this mean for me? Even if you have not yet received your funding, you might still have your place in line for this first round of PPP…

Koenig, Oelsner, Taylor, Schoenfeld & Gaddis PC (KO Law Firm) has announced the expansion of its commercial and data privacy and security practices with the addition of attorney and data privacy expert Erin Locker. Erin joins KO Law Firm following several years at two international law firms. Erin’s practice focuses…

Last week and over the past two days, new guidance has trickled out of the SBA regarding the Paycheck Protection Program loans (PPP Loans). Specifically, a third Interim Final Rule was issued  and the FAQ was updated. Below we’ve outlined important updates for you to know. Check our PPP resource…

Businesses are facing significant challenges and uncertainty in light of the COVID-19 pandemic. Several new laws provide relief for businesses and employees, but businesses must still consider pre-existing legal and contractual factors during the current circumstances. The following guide gives businesses a solid foundation for navigating some of the most common…