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 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 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 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 →
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? 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 →
How can the CARES Act EID loan expansion help your business? Small Business Loans available There are two (2) distinct types of small business loans: The SBA Section 7(a) Paycheck Protection Program (“PPP”) Loans Applications are to be submitted directly to SBA loan participant banks The Economic Injury Disaster Loans… read more →
FFCRA Poster of Employee Rights As a follow-up to the SUMMARY OF THE MAJOR PROVISIONS OF THE FAMILIES FIRST CORONAVIRUS RESPONSE ACT (https://boodlaw.com/2020/03/major-provisions-of-the-families-first-coronavirus-response-act-ffcra/) posted on https://boodlaw.com on March 19, 2020, we would like to let you know that the Department of Labor (DOL) has issued its poster summarizing employee rights… read more →
Effective March 21, 2020 all residents of the State of Illinois are subject to a “Stay at Home” Order. What does the order mean? For individuals: It literally means everyone should stay at home or place of residence unless they are exempt as provided for in the Executive Order. If… read more →
