On January 8, 2021, the U.S. Small Business Administration (“SBA”), in consultation with the Department of Treasury, announced the re-opening of the Paycheck Protection Program (“PPP”) to first-time borrowers and certain existing borrowers. Through a series of Interim Final Rules (each, an “Interim Rule”), the SBA provided guidance on the expanded PPP as enacted by

On December 27, 2020, the President signed into law the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, an integral portion of the Consolidated Appropriations Act of 2021 (the “Act”). As detailed in our Alert released on December 24, 2020, the Act includes the continuation and expansion of the Paycheck Protection Program (“PPP”),

Congress has reached a bi-partisan agreement on the Consolidated Appropriations Act of 2021 (the “Act”), which includes a supplemental relief package aimed at mitigating the continued economic impact of COVID-19 on American businesses, individuals and families, and includes expansion of the Paycheck Protection Program (“PPP”) as initially enacted under the CARES Act[1].  The

The Southern District of New York has recently issued a decision that could ultimately have a significant impact on the enforceability of contracts that required performance during the COVID-19 pandemic.  In JN Contemporary Art, LLC v. Phillips Auctioneers LLC, (20-cv-04370), the Honorable Denise Cote, U.S.D.J., ruled that COVID-19 constituted a “natural disaster,”—thus falling

The U.S. Small Business Administration (the “SBA”), in consultation with the Department of the Treasury, has further updated its Frequently Asked Questions (“FAQs”) regarding the issuance of Loan Necessity Questionnaires to certain Paycheck Protection Program (“PPP”) borrowers (“PPP Borrowers”). Such additional guidance comes nearly a month after the