Posts
April 07 2020
Client Alert: COVID-Related Furloughs and Retirement Plan Partial Terminations
Employers that provide a qualified requirement plan for their employees should be aware of the rules governing “partial terminations” if they are contemplating the termination or furloughing of employees in the present COVID-19 environment.
Click here to read the alert.
April 03 2020
Client Alert: EIDL & Advance Grant – Early Applicants Need to Reapply & Exhaustion of Credit is Not a Requirement
The U.S. Small Business Administration (“SBA”) confirmed that certain applicants for its Economic Injury Disaster Loans (“EIDL”) must reapply using a revamped website, which launched earlier this week.
Click here to read the alert.
April 02 2020
Client Alert: COVID-19/CARES- PPP Loan Application
The federal government recently released guidance and information on the Paycheck Protection Program (“PPP”), including a Loan Application, a Lenders Information Fact Sheet, and a Borrowers Information Fact Sheet.
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March 30 2020
Client Alert: Clarifications on the Families First Coronavirus Response Act
The United States Department of Labor (USDOL) updated the Questions and Answers page providing further guidance on the Families First Coronavirus Response Act (FFCRA).
Click here to read the alert.
March 30 2020
Client Alert: Federal CARES Stimulus Relief Package: Forgivable Loan Program & Business Tax Relief
The federal government has initiated the largest fiscal stimulus package in modern history: the “Coronavirus Aid, Relief, and Economic Security Act” (“CARES Act” or “Act”). The Cares Act allocates $350 billion to create the Paycheck Protection Program (“PPP”). The PPP provides forgivable loans of up to $10 million to any business or non-profit with less than 500 employees.
Click here to read the alert.
March 25 2020
Client Alert: COVID 19: Key Commercial Mortgage Loan Issues
It is obvious that the COVID-19 pandemic will have far reaching implications for commercial property stakeholders including owners, tenants and lenders. As early April debt service payment dates are quickly approaching, many commercial property owners will face not only economic challenges, but other complex decisions and concerns. Commercial property owners will need to consider the key issues highlighted below as they navigate the complicated loan documents that govern commercial mortgage loans.
Click here to read the alert.
March 24 2020
Fannie Mae announces pandemic relief for COVID-19, including forbearance, late fees, delinquency advances, and updated asset management Property inspection guidance.
Click here to read the guide.
March 23 2020
Client Alert: The NYS Quarantine Leave Law: New York State Enacts Job-Protected Leave Benefits for Employees Impacted by COVID-19
On March 18, 2020, New York State enacted the Quarantine Leave Law (“Law”) which provides for additional paid and unpaid leave, as well as an expansion of the state’s paid family leave and disability benefits, to certain employees who are “subject to mandatory or precautionary orders of quarantine or isolation… issued by the State, the Department of Health, local board of health or any government entity authorized to issue such order” related to COVID-19. The law became effective immediately.
Click here to read the alert.