WebAdmin, Author at Boodell & Domanskis, LLC

$130 Billion in Payroll Protection Program (PPP) Funding Still Available

A REMINDER TO ALL OUR SMALL BUSINESS CLIENTS Today, June 9, 2020 the Small Business Administration sent a reminder that more than $130 billion in Payroll Protection Program (PPP) funding is still available, with more flexibility on how it can be used. This means that PPP funds are still available… Read More →

Paycheck Protection Program Flexibility Act Signed Into Law

Paycheck Protection Program Flexibility Act Signed Into Law The Paycheck Protection Program Flexibility Act has been signed into law. As previously reported (https://boodlaw.com/2020/06/congress-passed-the-paycheck-protection-program-flexibility-act/), the benefits of the Paycheck Protection Program Flexibility Act include: Small businesses will now have more than just 8 weeks to use the PPP loan funds for… Read More →

Congress Passed the Paycheck Protection Program Flexibility Act

Congress Passed the Paycheck Protection Program Flexibility Act As a supplement to the well-publicized PPP loan portion of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), Congress passed a bill titled the Paycheck Protection Program Flexibility Act. This bill is meant to modify and assist the variety of… Read More →

You Are Free to Reopen – A Little

You are free to reopen – a little State of Illinois Effective Friday, May 29, 2020 the state of Illinois has entered Phase 3. What does that mean? For everyone: Gatherings: All gatherings of 10 people or fewer are allowed with this limit subject to change based on latest data… Read More →

CDC Guidelines for Business Reopening

Last week, the Centers for Disease Controls (CDC) published a sixty (60) page guidance document at https://www.cdc.gov/coronavirus/2019-ncov/downloads/php/CDC-Activities-Initiatives-for-COVID-19-Response.pdf These guidelines provide some specific guidance for certain businesses as they reopen: Childcare at page 40 Schools and summer camps at page 45 Employers with workers at high risk at page 49 Restaurants… Read More →

Loan Forgiveness of PPP Loans

Loan Forgiveness of PPP Loans If you applied and received a Paycheck Protection Program (PPP) loan under the CARES Act, you can now apply for forgiveness of your PPP loan. Click here for the SBA PPP loan forgiveness application. You can submit the forgiveness application in two (2) ways: You… Read More →

Clarification of PPP Loan Certification Requirement

Clarification of the PPP Loan Certification Requirement In March and early April we sent you information about how the CARES Act Paycheck Protection Program (PPP) loan may help your business. Then during the following weeks various guidance and press releases have brought in uncertainty during these challenging times. On May… Read More →

Residential Mortgage Loan Protections under Coronavirus Economic Stabilization Act of 2020 (CESA)

Residential Mortgage Loan Protections under the Coronavirus Economic Stabilization Act of 2020 (CESA) In addition to the well-publicized portions of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) passed March 25, 2020 pertaining to paycheck protection loans, business bailout programs, and stimulus packages, several sections provide assistance to… Read More →

How Can the CARES Act PPP Loan Help Your Business?

Updated to reflect additional information provided by the SBA on April 2, 2020 in its Interim Final Rule for implementation of sections 1102 and 1106 of the CARES Act. How can the CARES Act PPP loan help your business? Small Business Loans available There are two (2) distinct types of… Read More →

How Can the CARES Act Help Your Business?

How can the CARES Act help your business? This is our third information note about Congress’s response to COVID 19. It is meant to provide follow-up to the SUMMARY OF THE MAJOR PROVISIONS OF THE FAMILIES FIRST CORONAVIRUS RESPONSE ACT (click here) and the Department of Labor (DOL) poster summarizing… Read More →

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