Coolidge Wall Co., L.P.A.
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Posts tagged "Business Law"

Ohio Governor Issues Guidance for Commercial Lenders and Landlords

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.

SBA Affiliation Rules as They Pertain to the CARES Act

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 play a pivotal role in determining whether or not a particular business may be eligible for a PPP (or other SBA) loan under the CARES Act.

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

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:

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

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.

13-Week Cash Flow Projection Template for Your Business

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 at [email protected]

UPDATE 3.27.20: Small Business Administration Simplifies Disaster Loan Online Application Process For Direct Government Funds Up To $2 Million For Qualified Small Businesses

Congress Passes and President Signs CARES Act, Expanding SBA Disaster Loan Program and Loosening Program Requirements, As Well As Other Relief Programs

Urgent Planning Suggestions in a Downturn

While COVID-19 wreaks havoc today, Coolidge Strategic | Advisory Services (https://www.coollaw.com/Strategic-Advisory/) is thinking about your future and what you can do to protect it. In these situations, it is critical that businesses approach the dynamic environment like they were in a turn-around: Assess, Plan, Manage Cash, Communicate, Execute and Review. For an overview see: COVID-19: Urgent Two-Step Planning.pdf or contact us to discuss the planning process and tools for cash flow management and contingency planning in a difficult environment.