HSB Blog
PPP Flexibility Act Signed Into Law
June 05, 2020
On Wednesday evening, the U.S. Senate passed the Paycheck Protection Program Flexibility Act (the “Act”), which amends the CARES Act to provide businesses with greater flexibility in the use of PPP funds. President Trump signed the bill into law today, June 5. Below is a summary of the key changes.PPP Update: SBA Issues Additional Interim Final Rules
May 23, 2020
One week after issuing the long-awaited Paycheck Protection Program (PPP) Loan Forgiveness Application, summarized here, the Small Business Administration (SBA) issued two interim final rules on May 22, 2020 addressing loan forgiveness, loan review procedures, and borrower and lender responsibilities.Summary of SBA’s PPP Loan Forgiveness Application and Instructions Issued May 15, 2020
May 16, 2020
The Small Business Administration issued the long-awaited Paycheck Protection Program Loan Forgiveness Application (the “Application”) together with instructions (the “Instructions”), on May 15, 2020.PPP Safe Harbor Repayment Deadline Extended, Treasury Promises Additional Guidance
May 06, 2020
Late on Tuesday, May 5, 2020, the US Treasury Department extended the deadline for a safe harbor repayment of PPP loan funding from May 7 to May 14 and promised additional guidance on how the Small Business Administration will review the good-faith “necessity” certification prior to that time.
Evictions and Foreclosures to Move Forward, But it is Not Business as Usual
May 01, 2020
*Note, this blog has been updated 5/6/20 based on the SC Supreme Court order requiring Certifications for all evictions and foreclosures.
The Supreme Court announced on April 30, 2020 that evictions and foreclosures will resume May 15, 2020 across South Carolina.
Small Business Bankruptcies: New Beginnings in the Midst of COVID-19
April 30, 2020
As businesses of all sizes brace for the impact of COVID-19 over the next several months, and possibly years, the rise of bankruptcy filings is inevitable.
Additional Guidance on CARES Act Unemployment Programs and COVID-19 Support Payments
April 17, 2020
Within the last two weeks, many laws, orders and guidance have been approved and published regarding the administration of unemployment and employee financial relief.
CARES Act Provides $5 Billion in CDBG Funding for State and Local Governments
April 13, 2020
In the midst of the Coronavirus Pandemic, the federal government appropriated funding for low-income and moderate-income communities and persons through the Community Development Block Grant (CDBG) Program.CARES Act Provides Economic Relief for State and Local Governments
April 08, 2020
The Coronavirus (COVID-19) pandemic has significantly impacted state and local governments across the United States. The additional service demands placed upon law enforcement, first responders and emergency services personnel will likely last for several months. Along with the increased demand for essential government services, the national economic decline is likely to have great impact on state and local government budgets.Tax Provisions in the CARES Act
April 01, 2020
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act (H.R.748). The law is the third phase of a comprehensive federal government effort to address concerns arising from the COVID-19 pandemic, following on the Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020 (Public Law 116–123) and the Families First Coronavirus Response Act (Public Law 116–127).