New SBA Guidance on PPP Loans and the Necessity Certification: Safe Harbor for Loans Under $2 Million and SBA Remedies for Certain Adverse Determinations
Against a backdrop of considerable anxiety in the business community regarding many aspects of the Paycheck Protection Program (“PPP”), the U.S. Small Business Administration (“SBA”) today issued its promised guidance on how it will review a borrower’s good-faith certification of economic need in connection with a PPP loan.
No Good Deed: Protecting Yourself and Your Business from a Governmental Investigation Concerning Your PPP Loan
In a time when more than $650 billion in stimulus funds are being pumped through the Small Business Administration’s (SBA) Paycheck Protection Program (PPP), the potential for bad actors to create havoc for business owners reliant upon these mostly forgivable loans is almost guaranteed.
COVID-19 Scams: What Employers Need to Know
As businesses configure their workplaces to include new safety measures such as providing temperature checks, supplying necessary personal protective equipment (PPE) to employees, or installing hand sanitation stations, they must also be cautious of suspicious activities from fake suppliers, vendors, and other scammers attempting to exploit the current COVID-19 pandemic.
PPP Loan Update: Safe Harbor Repayment Deadline Extended from May 7, 2020 to May 14, 2020
In connection with the application process for a Paycheck Protection Program (“PPP”) loan, borrowers are required to certify in good faith that “current economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.”
Four Important Environmental Law Changes Since You’ve Been Home
Stites & Harbison environmental attorneys address several environmental issues that have been on-going over the past couple of months in this combined client alert.
Sudden Loss of Nationwide Permit 12 Threatens Future of Development Projects; Will Overwhelm the Corps of Engineers
A recent federal court ruling on the use of Nationwide Permit 12 (NWP 12), in connection with the Keystone XL pipeline project in Montana, threatens the feasibility of current and future development projects nationwide as the U.S. Corps of Engineers (Corps) braces for an increase in individual Clean Water Act (CWA) permit review.
Supreme Court Rules Proof of Willfulness Not a Precondition to Profits in Trademark Infringement Actions
On April 23, 2020, the United States Supreme Court resolved a circuit split and held that plaintiffs in Lanham Act trademark infringement cases do not need to show the defendant infringed willfully in order to recover the defendant’s profits.
The Los Angeles Lakers and the Paycheck Protection Program: U.S. Treasury Secretary Mnuchin Calls Flagrant Foul and Pledges Full Audits for Larger Loans
The Los Angeles Lakers, one of the most valuable sports franchises in the world, returned to the front page this week despite the suspension of the NBA season, and there are important repercussions for participants in the Paycheck Protection Program (“PPP”).