On June 5, 2020, the Paycheck Protection Program Flexibility Act of 2020 (“Flexibility Act”) was signed into law, amending the CARES Act. Then on June 19, 2020, the Small Business Administration and Treasury issued additional interim final rules regarding the implementation of the Paycheck Protection Program to conform to the Flexibility Act. However, in the … Read more
Under Section 2104 of the CARES Act, nearly all individuals receiving unemployment benefits could temporarily receive an emergency increase of $600.00 in their weekly benefit. This increased benefit is fully funded by the federal government until July 31, 2020. The federal payments were contingent on the execution of a signed agreement between the US Department of Labor (“DOL”) and … Read more
There are currently two COVID-19 related acts: The Families First Coronavirus Response Act (“FFCRA”) and the Coronavirus Aid, Relief, and Economic Security (CARES) Act. I know everyone wants to know about the Payroll Protection Program under the CARES Act. We’ve been looking at it and talking to banks, but let’s address the Families First Act … Read more