Ohio Health Director Continues “Stay at Home Order” Through May 1, 2020

In COVID-19 Information Hub by Coolidge Wall

On Thursday, April 2, 2020, Governor DeWine announced an Amended “Stay at Home” Order issued by Ohio Health Director Amy Acton, MD, MPH (the “Amended Order”). The Amended Order extends the original Order’s two-week restrictions on the ability of individuals in Ohio to leave their residences, this time through May 1, 2020 at 11:59 PM. Additionally, the Amended Order continues the prior Order’s prohibition on the operation of non-essential businesses and operations. The same exemptions for businesses operating as “essential businesses and operations” created under the initial Order still apply. Notably, the Amended Order provides some new requirements for stores …

Ohio Governor Issues Guidance for Commercial Lenders and Landlords

In COVID-19 Information Hub by Coolidge Wall

Ohio Governor Mike Dewine issued an Executive Order (Order 2020-08D) on April 1, 2020 requesting that landlords and lenders to small businesses provide rent and payment relief to their tenants/customers. Governor DeWine’s order is here. Governor DeWine requests in his order that landlords with small business commercial tenants suspend rent payments and cease evictions, both for at least ninety consecutive days. Similarly, mortgage lenders are asked to provide at least ninety consecutive days of forbearance. Specifically, Governor DeWine is asking lenders to forgo monetary and non-monetary remedies (filing suit, initiating foreclosures, impounding funds, terminating credit, sweeping cash, or requiring waivers …

New IRS Guidance Requires Employees to Provide Information to Request Paid Leave

In COVID-19 Information Hub by Coolidge Wall

New guidance from the IRS, issued the evening of March 31, 2020, answers some of the questions left open by recent DOL publications on the issue of Emergency Paid Sick Leave (EPSL) and Expanded FMLA leave under the Families First Coronavirus Response Act (FFCRA). Perhaps most importantly, the IRS guidance identifies specific information that employers can require from employees seeking paid leave under the new statute. Employers may require a written request for any leave sought under the FFCRA including, at a minimum: The employee’s name; The date or dates for which leave is requested; A statement identifying the COVID-19 …

Coolidge Wall Outlines Key Features of the Paycheck Protection Program For Your Business

In COVID-19 Information Hub by Coolidge Wall

The Paycheck Protection Program provides approximately $350 billion for a temporary supplement to the SBA’s current loan program through which SBA-approved banks are authorized to make loans to qualifying eligible entities. The PPP has three key components: Expanding the businesses that are eligible for loans; Modifying the loan terms, including eliminating guaranty and collateral requirements of the borrower; and Allowing all or a portion of the loan to be forgiven if the borrower maintains its payroll during the eight-week period following the funding and uses the loan proceeds as permitted. SBA-approved banks are moving expeditiously to create simple PPP loan …

Stay at Home Order Enforcement Underway in Montgomery County, Ohio

In COVID-19 Information Hub by Coolidge Wall

The Dayton Daily News reported this morning (April 1, 2020) that 270 Montgomery County sites are being investigated for failing to comply with Ohio’s Stay at Home Order. The Dayton & Montgomery County Department of Public Health is sending letters to businesses covered by such complaints and are requesting that they provide information proving that they comply with the Stay at Home Order. Health inspectors also started visiting sites on Monday. Specifically, responding businesses are going to be asked to submit: justification that the business meets the definition of essential businesses and operations; the measures the business has implemented to …

SBA Affiliation Rules as They Pertain to the CARES Act

In COVID-19 Information Hub by Coolidge Wall

On March 27, 2020, the President signed the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act. Our separate post outlines the Paycheck Protection Program (“PPP”), which is administered by the U.S. Small Business Administration (SBA), and is a distinct component of the Act. Inherent to the PPP (and other SBA loans modified by the Act), is the question of “affiliation” as it pertains to businesses, their owners, and their parent and subsidiary entities and affiliations. Importantly, the SBA’s size and affiliation rules are broader than most common understandings of the affiliation concept in other aspects of the law and will …

CARES Act Makes Paycheck Protection Program Loans Available For Businesses — Application Released

In COVID-19 Information Hub by Coolidge Wall

UPDATE: On March 31, 2020, the Small Business Administration and the U.S. Treasury released the Application Form for the new SBA PPP Loan forgiveness program, which we have included at the end of this article. President Trump signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act into law on March 27, 2020. In addition to providing relief to millions of workers, the CARES Act allocates approximately $350 billion to the Small Business Administration (SBA) to administer emergency loans through the Paycheck Protection Program (PPP). Who is Eligible. Generally, any sole proprietor, for profit business, nonprofit 501(c)(3) organization, tribal business, …

The CARES Act and Its Impact on Retirement Plans

In COVID-19 Information Hub by Coolidge Wall

This is the third in a series of articles discussing the impact that the COVID-19 (coronavirus) pandemic and the governmental responses to it have had on employee benefits. The first two articles dealt with employer group health plans, continuation coverage, HIPAA privacy, and other welfare benefit plans. This article summarizes the provisions of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) enacted March 27th that affect employer-sponsored retirement plans and individual retirement accounts (IRAs). Coronavirus-Related Distributions The CARES Act creates a new type of permissible distribution under 401(k), 403(b), and governmental 457(b) plans plus IRAs. The Act states …

13-Week Cash Flow Projection Template for Your Business

In COVID-19 Information Hub by Coolidge Wall

UPDATED:  This template has been updated to include a tool for projecting and tracking use of PPP loan proceeds and optimizing the amount of loan forgiveness here. A rolling 13-week Cash Flow Projection is an essential weapon in your battle against uncertainty. This template may be used to create that tool for your business. Instructions for creating and using the template are included. If you need additional information, assistance, or a review of your projection, contact Herman Chandiramani. (Please note this tool will automatically download onto your computer into your Download files.) You may also find the below articles helpful …

New DOL Guidance Clarifies Families First Coronavirus Response Act

In COVID-19 Information Hub by Coolidge Wall

A new compliance assistance guidance from the DOL (“Guidance”) has been posted concerning the paid leave provisions under the Families First Coronavirus Response Act (“FFCRA”), which includes Emergency Family and Medical Leave Expansion leave (“Expanded FMLA”) and Emergency Paid Sick Leave (“EPSL”) provisions, all of which become effective April 1, 2020. As before, the new Guidance is in the form of “FAQ” statements — 59 of them, to be exact. Much of the new Guidance simply reiterates information from the previous statements issued in the last two weeks. However, some of the information is new or clarifies existing DOL positions. …