On Thursday April 23, 2020, the House passed H.R. 266, a $484 billion relief package that would replenish funds for the SBA Paycheck Protection Program.
The legislation allocates $320 billion to replenish the SBA Paycheck Protection Program that was enacted as part of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). We suspect that this second round of funding will be depleted even quicker than the first round. We recommend that eligible borrowers not able to receive funding from the first round should gather all required payroll documentation and apply for a Paycheck Protection loan as soon as possible before the second round of funding is exhausted.
Please contact a Kerr-Russell attorney today for assistance with the SBA Paycheck Protection Program.
John D. Gatti is a Certified Public Accountant as well as an attorney. He concentrates his practice in the areas of taxation, mergers and acquisitions, business law, real estate law, and estate planning. John also serves as the firm’s administrative partner and chairs the firm’s Taxation Practice Group. He has considerable experience representing professional services firms. These include accounting, engineering, and architectural firms, as well as insurance agencies, in purchase and sale transactions.
Kevin T. Block focuses primarily on business law, including business transactions, real estate and secured financing. He handles matters related to real estate, finance, lease and purchase and sale transactions, mergers, acquisitions and dispositions, entity formation, commercial contracts and lien rights enforcement. He additionally represents commercial lenders, as well as borrowers in credit transactions. Kevin also specializes in business entity formation, drafting and negotiating business contracts, and business planning.
Cody Attisha focuses on taxation law, corporate law, mergers and acquisitions, finance, and estate and trust planning. He also helps clients with entity formation, including evaluating, choosing, and implementing the right partnership, corporate, or non-profit structure.
Nezar G. Habhab has a broad transactional practice handling matters related to leasing and purchasing, mergers and acquisitions, entity formation, commercial contracts, as well as data privacy. He drafts and provides counsel on agreements in the technology sector related and is experienced in drafting and negotiating a variety of artist, influencer, branding, and licensing agreements.
Other posts to consider:
Practice AreasBusiness and Corporate Law Taxation