April 03, 2020 Category: COVID-19 Updates
By Attorney Jeffrey A. Robbins, Esq.
The U.S. Small Business Administration posted its interim final guidelines late yesterday (April 2, 2020) in anticipation of banks accepting applications starting Friday, April 3, 2020. You can view the newly released guidelines for the Paycheck Protection Program for further guidance by clicking here.
These guidelines provide further guidance on eligibility; calculation of maximum borrowing amounts; determining qualifying payroll costs; interest rates maturity date; use of proceeds; and forgiveness
Additional information about COVID-19 and the recently passed CARES Act can be found on our website here.
If you have any questions about the CARES Act or if you have any other business needs, please contact the business and corporate legal team at Hertz Schram or Jeffrey A. Robbins at (248) 335-5000 if you would like to learn more about your legal rights and options. Although our office is physically closed, we are operating our business remotely. All our attorneys are available via phone by calling our office number at (248) 335-5000.