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 …

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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 …

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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 …

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K-1 Distributions to LLC Members and Partnership Partners Constitute Payroll Costs for Purposes of PPP Loan Amount Calculation – Treasury Department Announces in Supplemental Interim Final Rule

By: Matthew L. Mitchell With the $350 billion fund allocated by Congress for the Paycheck Protection Program (“PPP”) exhausted, we are currently waiting to see if and when the PPP funding is extended. Amid these reports, the U.S. Treasury Department issued a second, supplemental Interim Final Rule (the “Second Rule”) that provides further guidance on …

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Practical Strategies For Venture And Private Equity Backed Businesses Considering PPP Loans

By: Jonathan D. Gworek and Matthew L. Mitchell With the issuance of the U.S. Treasury Departments “Interim Final Rules” and related Guideline within the Paycheck Protection Program’s (“PPP”) “Affiliation rules”, there have been concerns that the Affiliation Rules may deem the portfolio companies of venture capital and private equity firms as affiliates of the fund …

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Federal Reserve Bank Unveils $2.3 Trillion Plan to Bolster Economy

By: Matthew L. Mitchell On April 9, the Federal Reserve announced an expansive relief strategy to aid small and mid-sized businesses and municipalities with plans to develop $2.3 trillion in economy-boosting programs. Within this plan, the Fed also announced an intent to fund new and expanded “Main Street Lending Facilities”, a program designed to provide …

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COVID-19 Alert: A Plain Language Guide to the Coronavirus Aid, Relief and Economic Security (“CARES”) Act

By: Joe Hunt, Amanda Thibodeau, and Matthew Mitchell President Trump signed the CARES Act into law on March 27, 2020. With an estimated price tag in excess of $2 trillion, the CARES Act is intended to provide businesses and industries with a broad lending program designed to sustain working capital needs, provide immediate cash relief …

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Employment Law Alert: Congress Adopts Emergency Paid Family Medical Leave and Sick Time Standards; Client Alert: State and Federal COVID-19 Small Business Loan Programs

Morse Attorneys Matthew Mitchell, Joe Hunt, and Amanda Thibodeau shared two important updates regarding new laws that apply to private-sector employers and employees affected by Coronavirus, as well as the launch of new programs to assist small businesses struggling during the COVID-19 outbreak. The first update discusses how President Trump signed into law the Families First …

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Employment Law Alert: New Minimum Wage Rate; Year-End Bonuses and the MA Equal Pay Act

Morse Employment Law Attorneys Matthew Mitchell and Amanda Thibodeau shared two employment law updates regarding the new minimum wage rate for Massachusetts non-exempt employees, as well as information about discretionary, end-of-year bonuses and the Massachusetts Equal Pay Act. The first update explains the new minimum wage rate for Massachusetts non-exempt employees.  As of January 1, …

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Employment Law Alert: Round Up of Noncompete Reform Coming to New England

Noncompete reform is taking over the country as more and more states - including four in New England - are making the decision to enact new laws restricting the use of noncompetition agreements by employers. Maine, New Hampshire, and Rhode Island all recently passed legislation that is expected to take effect soon, and a similar …

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