COVID-19 Alert: Covid-19 Relief Law Decoded: What Clients Need To Know Now

By: Matthew Mitchell, Joe Hunt, & Amanda Thibodeau On December 27, 2020, the Consolidated Appropriations Act of 2021 (the “CAA”) passed into law. The CAA includes long-anticipated measures in response to the COVID-19 pandemic and resulting economic crisis. The CAA supplements and extend measures enacted earlier this year, including the Coronavirus Aid, Relief, and Economic Security Act (the …

Small Business Administration Issues New Guidance That Impacts M&A Transactions Involving PPP Loan Recipients

By Matthew L. Mitchell and Scott R. Bleier     On October 2, 2020, the Small Business Administration (SBA) announced new guidelines that apply the SBA “Change of Ownership” procedures to the PPP context. As a 7(a) loan program, the PPP loans are subject to the same regulations that apply to 7(a) loans. These regulations …

COVID-19 Alert: Massachusetts Extends Administrative Tax Relief for Small Businesses

By: Joe Hunt On September 15, 2020, Massachusetts announced the extension of administrative tax relief measures for certain small businesses. Sales taxes, meals taxes, and room occupancy taxes originally due to the Commonwealth from March 2020 through April 2021 are deferred until May 2021. To qualify for the deferral, Massachusetts businesses must have collected less …

PPP Loan Update: “Forgiveness Portal” Open; FAQs Posted

By Matthew L. Mitchell and Scott R. Bleier     On August 10, 2020, the Small Business Administration (the “SBA”) opened the “Forgiveness Portal," permitting lenders of Payroll Protection Program (“PPP”) loans to accept forgiveness applications from PPP loan recipients. In addition, Frequently Asked Questions (FAQs) on PPP Loan Forgiveness (the “FAQs”) were published, and …

Federal Reserve Main Street Lending Program Update: Open for Lender Registration

  On June 15, 2020, the Federal Reserve’s Main Street Lending Program opened for Lender registration. This is the last administrative step prior to opening the program to business borrowers. A press release from the Federal Reserve Bank of Boston on the subject is here. The Main Street Lending Program is designed to provide small and medium-sized businesses …

PPP Flexibility Act Passes; Fundamentally Changes Forgiveness Rules

By: Matthew Mitchell and Scott Bleier               On June 3, 2020, the Senate passed, by unanimous consent, the Payroll Protection Program Flexibility Act (the “Act”), which eases certain forgiveness requirements to the favor of PPP loan recipients.  Specifically: Forgiveness Period Extended: The Act extends the Forgiveness Period of the …

Massachusetts Governor Outlines Four-Phase Re-Opening Plan

On May 11, 2020, Massachusetts Governor Charlie Baker announced a broad government strategy to mitigate continuing health risks and economic distress caused by COVID-19. The core elements of the strategy include: A four-phase approach to the re-opening of the Massachusetts economy; and Mandatory workplace safety standards. The announcement provides a conceptual framework for the obligations …

Faith Kasparian Speaking on Privacy Roundtable Discussion

On Tuesday, May 12, Morse attorney Faith Kasparian will join Privacy Ref for a privacy rountable discussion. Topics will include the effects of CCPA, matters that have arisen in the context of the coronavirus and the current environment, and various other privacy issues. This livecast will provide an opportunity to ask any other privacy questions …

The Federal Reserve Main Street Lending Program

    On April 30, 2020, the Federal Reserve released additional details concerning the proposed Main Street Lending Program. The release includes changes to the original term sheets for the Main Street New Loan Facility (MSNLF) and the Main Street Expanded Loan Facility (MSELF) and introduced a new term sheet for the Main Street Priority …

A Roadmap for the Re-Opening of the Massachusetts Economy is Offered

Massachusetts businesses are presently subject to Governor Baker’s Emergency Order Extending the Closing of Certain Workplaces and the Prohibition on Gatherings of More Than 10 People. The Emergency Order is effective until May 18, and requires all businesses and organizations that do not provide “COVID-19 Essential Services” to close their physical workplaces and facilities to workers, …