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Manufacturing

HSB Webinar: COVID-19 Update

July 01, 2020

Join HSB’s Employment Law team for our next webinar on July 8 for an update on COVID-19’s continued impact on SC employers. 

SBA Issues Updates to Initial Interim Final Rule on Paycheck Protection Program

June 11, 2020

On Thursday, June 11, 2020, the Small Business Administration (SBA) issued an update to its initial interim final rule on the Paycheck Protection Program (PPP), which was originally enacted as part of the CARES Act on March 27, 2020. The update incorporates key changes from the Paycheck Protection Program and Health Care Enhancement Act (enacted on April 24) and the Paycheck Protection Program Flexibility Act of 2020 (enacted on June 5). Following are the most important provisions:

HSB Attorneys Contribute to SC Chamber’s COVID-19 Guide for Businesses

June 11, 2020

Haynsworth Sinkler Boyd attorneys Perry MacLennan, Clay Walker and Adam Yount recently contributed to the SC Chamber of Commerce’s “Business in the Era of COVID-19: A Guide for Moving Your Business Forward.”

PPP Flexibility Act Signed Into Law

June 05, 2020

By: Will Johnson and Perry MacLennan

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.
 

SBA Issues New Interim Rule on Foreign Affiliates

May 18, 2020

The U.S. Small Business Administration (SBA) published a new interim final rule on Monday, May 18, 2020, which addresses the question of whether U.S. companies must include employees of foreign affiliates for purposes of measuring their number of employees for program eligibility.
 

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. 
 

Guidance for Lenders on PPP Forgiveness

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

By: Will Johnson and Perry MacLennan

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. 

Senate Passes Paycheck Protection Program and Health Care Enhancement Act to Add $310 Billion to Paycheck Protection Program

April 22, 2020

The United States Senate passed a bill on Tuesday, April 21, to increase the $349 billion cap under the Paycheck Protection Program (PPP). The “Paycheck Protection Program and Health Care Enhancement Act” would add another $310 billion in funding to the PPP, increasing the total amount to $659 billion.
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