Alert: Response and Resources for Coronavirus (Covid-19) Situation: Resources
In this ever evolving situation, Quinlivan and Hughes is committed to serving our clients in the same way we have always done. Technology has allowed us to continue operations and work remotely while keeping our clients needs at the top of the list. Below is a list of resources for you and please contact us personally with any questions. We look forward to helping you in this unprecedented time.
Schedule A Consultation By Calling : 320-200-4928
Business & Real Estate Law
Employment Law For Employers
Government Claims Defense
Workers Compensation & Personal Injury
President Signs Into Law $484 Billion Stimulus Package With Additional $310 Billion in Available Funds to Paycheck Protection Program
On behalf of Quinlivan & Hughes, P.A. | Apr 28, 2020 | Covid-19 |
Washington D.C.- On April 24, 2020 the President signed into law the Paycheck Protection Program ("PPP") and Health Care Enhancement Act (the "Act"). The Act expands on the Cares Act PPP loan initiative by increasing funds available to the Small Business Administration ("SBA") by $310 billion totaling $659 billion available for small business economic relief.
Importantly, the Act provides for an additional $250 billion in unrestricted funds for the PPP loans and an additional $60 billion allocated for smaller lending institutions. All in the hope that PPP funds reach the small businesses desperate for relief.
Accordingly, the SBA and the Department of the Treasury jointly released a statement on Friday that the SBA will resume accepting PPP loan applications on Monday April 27, 2020 at 10:30 AM EDT. Lenders are directed to continue processing loan applications previously submitted as well as any new applications. Given the short time it took to exhaust the initial round of PPP funding, applicants should submit its PPP loan application as soon as possible to an approved lender. Again, applications are funded on a first come first served basis. Potential borrowers should monitor its application and confirm all information submitted to lenders. For more information on the PPP, look for earlier posts in our resource center.
Of note, it is the borrower's responsibility to attest to the accuracy of the payroll calculation. The lender will rely on the borrower's representations with respect to amounts excluded from payroll costs. If the lender identifies an error, the lender will work with the borrower to remedy the issue. Additionally, it is the responsibility of the borrower to apply all SBA affiliation rules when applying for PPP loan relief.
If you need assistance with the application or have questions on the process and applicable SBA rules, Quinlivan & Hughes is here to help, contact us today by calling us at 320-200-4928. You can also contact us online.
Established more than 95 years ago, Quinlivan & Hughes ranks among the oldest and largest law practices in Central Minnesota. The full-service law firm has growing legal teams in the areas of employment law, business law, government law, insurance defense, trust and estate planning, and general litigation. Learn more at Quinlivan.com.
Trump Signs Stimulus Bill: 'Paycheck Protection Program Second Draw' Provides Relief for Small Businesses
Every Company Should Have an Employee Handbook
Reasonable Accommodations for Employees With Disabilities
EEOC Resumes Issuing Right-to-Sue Notices That Were Suspended Due to COVID-19
Ebert, Schwegman, Kjellberg-Nelson Named Super Lawyers and Sogge Receives Rising Star Honor
Personal Injury & Worker's Comp
Let Us Know What We Can Do
St. Cloud Office
1740 W. Saint Germain St.
Monticello Office
305 Cedar Street, Suite 101
© 2021 Quinlivan & Hughes, P.A.. All Rights Reserved.