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15 Apr 2020, 3:16 pm
This is a good time for companies to analyze the availability of coverage under all of their D&O policies for costs associated with responding to government investigations, particularly if the company is availing itself of loans or grants under the CARES programs. [read post]
14 Apr 2020, 1:11 pm
A core focus of the CARES Act is $350 billion in financial aid for small businesses through federal loans under a new Small Business Administration (“SBA”) loan program called the Paycheck Protection Program (the “PPP”). [read post]
14 Apr 2020, 12:50 pm
Direction is provided through mission, vision, and values statements; plans; policies; budgets; specific directives; and responsible leadership. [read post]
10 Apr 2020, 10:20 am
While not explicitly stated, the waiver appears to apply to both direct and indirect compensation arrangements. [read post]
9 Apr 2020, 9:05 pm
This designation marks the first white supremacist group to receive the official terrorist designation. [read post]
9 Apr 2020, 12:19 pm
The advance is available within days following a successful SBA application (the application asks for direct deposit information). [read post]
8 Apr 2020, 8:45 am
There are three general groups to which 13 C.F.R. [read post]
7 Apr 2020, 11:38 am
Cordray discussed the CFPB’s authority in the areas of mortgage and student loan servicing, debt collection and credit reporting, and referenced a white paper he published yesterday directed to CFPB Director Kraninger and various Senate and House members setting forth immediate actions the CFPB should take to prevent consumer harm, including the following: Using its supervisory authority to closely monitor banks, financial companies, and mortgage loan servicers to… [read post]
6 Apr 2020, 4:14 pm
The Directive is effective through April 30th. [read post]
4 Apr 2020, 4:40 pm
These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loan or used to bridge the gap while applying for a direct SBA Economic Injury Disaster loan. [read post]
4 Apr 2020, 4:40 pm
These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loan or used to bridge the gap while applying for a direct SBA Economic Injury Disaster loan. [read post]
3 Apr 2020, 6:23 pm
If a borrower uses PPP loan funds for unauthorized purposes, then the SBA will direct the borrower to repay the PPP loan. [read post]
3 Apr 2020, 3:44 pm
Updated Response Based On April 1, 2020 DOL Regulations: An employee who is quarantined either under directive of a SiP Order, because a health care provider has advised the employee to self-quarantine due to COVID-19 concerns, or because the employee is experiencing COVID-19 symptoms and is seeking medical diagnosis from a health care provider, and who cannot also telework, may now be eligible for EPSL leave under the FFCRA. [read post]
3 Apr 2020, 7:29 am
— Texas Bar Blog The coronavirus small business loan program: What you need to know — Starting today, small businesses can apply for the nearly $350 billion in loans available through the economic rescue plan from Congress. [read post]
2 Apr 2020, 6:53 pm
South County Economic Development Council 0% Interest Loan (restaurants) Small BUSINESS LOAN South County Economic Development Council is offering emergency 0% interest loans to restaurants in San Diego County.The South County Economic Development Council (South County EDC) is offering a no-interest loan to eating establishments in South County with the goal of providing economic relief. [read post]
1 Apr 2020, 9:05 pm
The MOUs stated that private education loan complaints initially would be directed to the CFPB, while federal loan complaints would go to the Department. [read post]
1 Apr 2020, 4:33 pm
The Paycheck Protection Program is a loan forgiveness program (available through June 30, 2020) designed to provide a direct incentive for small businesses to keep workers on their payroll. [read post]
1 Apr 2020, 9:59 am
”[16] The Treasury Secretary is directed to have application materials ready 10 days after enactment. [read post]
31 Mar 2020, 3:38 pm
The individual has to quit his or her job as a direct result of COVID-19. [read post]
31 Mar 2020, 12:55 pm
Loan funds may be used for (i) payroll costs, (ii) costs related to the continuation of group health care benefits during period of paid sick, medical or family leave, and insurance premiums, (iii) employee salary, commissions, or similar compensations, (iv) mortgage interest, (v) rent, (vi) utilities, and (vii) interest on debt obligations incurred prior to 2/15/20. e. [read post]
