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So far in June, we updated our COVID-19 blog pages with the following information. The Paycheck Protection Program (PPP) Flexibility Act of 2020 became law on June 5. See our Flexibility Act blog for details. The Oregon Supreme Court upheld Gov Brown’s orders restricting the size of church congregations to slow the spread of COVID-19. Washington won two National Dislocated…
Congress passed the Paycheck Protection Program (PPP) Flexibility Act of 2020 (Flexibility Act), on June 3, and President Trump signed it into law early on June 5, 2020. The Flexibility Act updates the PPP, which was enacted by the CARES Act and implemented by the SBA, to extend the program and add more flexibility Forgiveness…
The Paycheck Protection Program (PPP), established under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), provides funds to businesses for the purpose of paying up to 8 weeks of payroll and operating costs. PPP funds were offered as a forgivable loan as long as certain criteria on the use of the funds are…
As the COVID-19 curve appears to be flatting somewhat, people are starting to think about and plan for coronavirus recovery and how to return to work. The basic outlines of plans are starting to take shape. As we hear details, we will post them here. FEDERAL The White House published a three-phased Opening Up America…
On 4/9/2020, the Federal Reserve announced a new $2.3 trillion loan package. The Fed will work through banks to offer four-year loans to companies of up to 10,000 employees, and directly lend to state governments and populous counties and cities to help them respond to the crisis. The Fed’s initial $75 billion investment is intended…
In addition to the $10,000 EIDL grant, we are aware of the following other public and private grants. We will add to this list as we learn of other options. Please contact us to let us know of grant opportunities. The U.S. Chamber of Commerce Foundation – in partnership with Vistaprint and a coalition of…
April 6, 2020 By: Natalya Belonozhko Coronavirus (COVID-19) and governments’ orders to close non-essential businesses in Oregon and Washington have impacted businesses’ ability to operate in their leased spaces and pay rent under their commercial leases. Force Majeure Clause Most commercial leases include a force majeure clause. A force majeure clause provides for the parties’…
In addition to the CARES Act, the Family Medical Leave Act, unemployment, and tax guidance we have collected the following additional nationwide business resources: What federal government agencies are doing in response to COVID-19 CDC Interim Guidance for Businesses and Employers and environmental cleaning guidance Online health self-assessment, Providence – telemedicine visit. Washington COVID-19…
Evictions, Foreclosures, & Forbearance 80% of jobs lost to coronavirus recession were blue collar jobs, so we’re seeing the biggest impact in inability to pay in residential rentals and commercial rents and mortgages of non-essential businesses that cannot or do not provide take-out services. Construction companies are eligible for the PPP loans under the CARES…
On March 20, 2020, the IRS announced that the tax filing date has moved from April 15 to July 15. Business and individual taxpayers will not be subject to additional interest and penalties on amounts due for 2019. The first quarterly tax payment for 2020 is also due on July 15 The IRS is encouraging…
