Although brief in length, the Paycheck Protection Program Flexibility Act (the “Act”) that was signed into law by President Trump on June 5, 2020, clarifies how borrowers can use Payment Protection Program (“PPP”) loans made pursuant to the CARES Act and grants borrowers much-needed flexibility in the requirements for PPP forgiveness.» Read More

The U.S. House of Representatives passed a bill on May 28, 2020, to relax the terms and conditions for forgiveness of Paycheck Protection Program (PPP) loans, just before the eight-week covered periods for early borrowers are coming to an end. The Paycheck Protection Flexibility Act, H.R.» Read More

As we all practice social distancing to avoid the spread of COVID-19, businesses cannot escape the economic impact of the pandemic. With an economic recession on the horizon, the depths of which cannot be fathomed, it is crucial that businesses act proactively to address their obligations owed to creditors.» Read More