News & Insights

On April 15, the Small Business Administration issued an interim final rule to the Paycheck Protection Program (PPP), a provision under the CARES Act designed to provide economic relief to small businesses that are struggling during the COVID-19 pandemic. The SBA invites the public to submit comments regarding the interim final rule, which applies to PPP applications submitted by June…

The Washington Metropolitan Area District Office presents Coping with COVID-19: SBA Updates on CARES Act Programs to Help Small Businesses and Non-Profits Join Antonio Doss, District Director of the Washington Metropolitan Area District Office of the U.S. Small Business Administration (SBA), as he and his team conduct a webinar to discuss the financial tools and resources now available to help small…

Last night, April 2, the SBA issued an Interim Final Rule for the Paycheck Protection Program. You can find the Interim Rule here.  These rules are not final but do contain multiple changes and interpretations of the Act that will affect the loan amount, potential repayments, among other items. In particular, the SBA is now stating the interest rate on…

On the heels of the Office of Management and Budget’s (OMB) memorandum encouraging agencies to consider requests for equitable adjustment (REAs) for increased costs related to COVID-19, the U.S. Department of Defense (DOD) issued a similar memorandum for defense agencies on March 30, 2020. (Our summary of the OMB memo can be found here.) The DOD memo outlines three ways…

As has been well publicized, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) is a $2 trillion economic relief package enacted to help individuals and businesses in the United States weather the severe financial impact of the COVID-19 pandemic. A key feature of the CARES Act is the creation of the Paycheck Protection Program (PPP), where the federal…

COVID-19 is creating unprecedented business disruptions around the globe, and it is important to take this situation seriously. Acting with urgency is crucial, but having a plan of attach will mitigate confusion down the road. We recommend focusing on two main points: 1. Health and Safety of Your Office and Your Team: Your health and the health of your team…

U.S. Department of Homeland Security Cybersecurity & Infrastructure Security Agency (CISA), the U.S. Department of Defense, and other agencies have issued guidance on industries and workers “essential” to critical infrastructure.  They recommend these businesses remain open and prioritized for continuous operations.  Industries include: medical and healthcare, telecommunications, information technology systems, defense, food and agriculture, transportation and logistics, energy, water and…