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 …
Continue reading COVID-19 Alert: Covid-19 Relief Law Decoded: What Clients Need To Know Now
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 …
The Federal Reserve of Boston has published a state-by-state listing of lenders participating in the Main Street Lending Program who are currently accepting applications from new business customers, and also elect to be listed. The Listing of Lenders Accepting New Business Customers can be viewed here. The Federal Reserve has stated that this listing will …
On July 6, 2020, the Federal Reserve of Boston announced in a press release that the Main Street Lending Program is now fully operational and that the Federal Reserve’s special purpose vehicle is ready to start purchasing participations in loans made under the Program. It also announced its intention to publish in the coming days …
Continue reading Federal Reserve Announces that the Main Street Lending Program is Fully Operational
Today, June 30, 2020, marks the last day that a small business may apply for a COVID-19 relief loan under the Payroll Protection Program (“PPP”). In the run-up to this deadline, the Treasury department has issued a series of regulations and forms that govern PPP “Forgiveness Criteria” – the conditions that a PPP loan …
By: Sean Detweiler The USPTO recently announced that it is accepting petitions to accelerate the timeline for examination of new trademark applications for trademarks used to identify certain COVID-19 medical products and services (see USPTO: Relief Available to Trademark and Service Mark Applicants in View of the COVID-19 Outbreak: Petitions to Prioritize the Initial Examination of …
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 …
Continue reading Federal Reserve Main Street Lending Program Update: Open for Lender Registration
In an effort to allow more small and medium-sized businesses to be able to receive support under the Main Street Lending Program, on June 8, 2020, the Federal Reserve made several changes to the Program. The Federal Reserve stated that it expects the Program to be open for lender registration soon and to be actively …
Continue reading Federal Reserve Expands the Main Street Lending Program
On May 27, 2020, the Federal Reserve Bank of Boston issued additional guidance, forms of borrower and lender certifications, forms of participation agreements and related agreements in connection with the Main Street Lending Program. No official launch date was announced for the Program, but it has been widely reported that the launch is imminent. The …
As we have previously reported, a recipient of a Paycheck Protection Program (“PPP”) loan may be excused from the obligation to repay the loan if certain “Forgiveness Criteria” are met. On Friday, May 22, 2020, the Treasury Department released two Interim Rules that detail those Forgiveness Criteria: the Interim Final Rule on Loan Forgiveness, and …
Continue reading PPP Update: Treasury Department Releases New Regulations Related to PPP Forgiveness
Good Company: A Morse Blog 