Eligible businesses will have an additional five weeks to apply for Paycheck Protection Program (“PPP”) loans, after President Trump signed a bill on July 4, 2020, extending the application deadline to August 8, 2020. The deadline otherwise would have expired on June 30, 2020.

The deadline extension is just the latest of many changes to the PPP, which offers low interest, forgivable loans to small- and medium-sized businesses that maintain their payrolls during the COVID-19 pandemic. The program initially attracted overwhelming interest from businesses – so much so that the original $349 billion allocated to the program was exhausted in less than two weeks.  But shifting rules – and fears that businesses could face civil or even criminal penalties for misusing loan funds – caused some potential borrowers to avoid the program and even return their loans.

Please read our full Legal Alert detailing this latest development and additional insight of interest to borrowers.

Hahn Loeser is proud to be recognized by Construction Executive Magazine in the 2020 list of The Top 50 Construction Law Firms in its June issue that was just released.  Ranking in the top half of the list at number 24, Hahn Loeser is the only Ohio-based firm to be included in this year’s list.

This ranking was the result of research conducted by Construction Executive surveying hundreds of U.S. firms with construction law practices.  The ranking was determined by an algorithm that weighed 2019 revenues from the firm’s construction practice, number of attorneys in the firm’s construction practice, percentage of total revenues derived from its construction practice, number of states in which the firm is licensed to practice, year in which the construction practice was established and the number of construction clients served in 2019.

This issue also includes Executive Insights from attorneys from ranked firms. Here, you can read my insights on what questions a construction company should ask before retaining a law firm.

I would like to thank our impressive team of attorneys and professionals and all of our amazing clients for this honor.

Members of our Construction Law Team joined forces with Suhas Shah, a partner with Intyllus Advisors for a three-part webinar series for the construction industry on critical topics of interest related to COVID-19.  If you missed any of our programs, you can watch the recordings and download the slides at the links below.

Part 1: Employment Provisions of FFCRA and the CARES Act
Presented on Thursday, April 23 at 1 p.m. EST
Follow these links to download the recording and the slides.

Part 2: Making the Most of SBA Loans
Presented on Thursday, April 30 at 1 p.m. EST
Follow these links to download the recording and the slides.

Part 3:  A Review of the Main Street Lending Program
Presented on Thursday, May 7 at 1 p.m. EST
Follow these links to download the recording and the slides.

 

We want to thank Foundation Software for inviting us to present a three-part webinar series for their clients.  You can view each of these complimentary sessions and access the slides at the links below.

Part 1:  Make the Most of the Coronavirus Paycheck Protection Program (“PPP”) Loans
Presented on Friday, April 24 at 1 p.m. EST
Follow these links to download the recording and the slides.

Part 2:  How to Document Delays, Count Costs and File Legal Claims Related to Coronavirus
Presented on Wednesday, April 29 at 1 p.m. EST
Follow these links to download the recording and the slides.

Part 3:  Safety First: Employer Considerations, OHSA Guidelines, Illness Reporting and New Laws during the Coronavirus Pandemic
Presented on Wednesday, April 29 at 1 p.m. EST
Follow these links to download the recording and the slides.

Recent guidance from the U.S. Small Business Administration (“SBA”) is causing some businesses to reconsider whether they are eligible for Paycheck Protection Program (“PPP”) loans and to contemplate returning loans they have already received.

The PPP, part of the $2.2 trillion federal stimulus bill enacted in response to COVID-19, was intended to provide low-interest, forgivable loans of up to $10 million to businesses that maintain their payrolls during the pandemic. Businesses that use PPP loan funds for employee payroll and certain other permitted expenses during an eight-week period beginning on the loan disbursement date generally are eligible to have the loans forgiven, with the forgiveness amount excluded from borrowers’ gross incomes.

To read our full Legal Alert, please click here.

 

Last Friday, April 24, we had record turnout for the first program in our webinar series with Foundation Software and we look forward to another great program this afternoon! This complimentary series provides guidance on critical issues impacting the construction industry.

You can listen to the recording and download the slides from last week’s topic and register for the next two in our series at the links below.

We hope you can join us!

Download the 4/24 RecordingMaking the Most of PPP Loans
Download the 4/24 Slides

Register for 4/29 WebinarHow to Document Delays, Count Costs and File Legal Claims Related to Coronavirus

Register for 5/6 Webinar – Safety First:  Employer Considerations, OSHA Guidelines, Illness Reporting and New Laws During the Coronavirus Pandemic

We had a great turnout for last week’s webinar with Intyllus Advisors discussing Employment Provisions of the FFCRA and the CARES Act.

To view the recorded webinar, please click here.

To download the slides, please click here.

Please tune in to our next webinar this Thursday, April 30, where we will discuss Making the Most of SBA Loans.  To register, please click here.

Ivan Golden and Ann Knuth, attorneys at Hahn Loeser & Parks LLP, along with Suhas Shah, partner with Intyllus Advisors join together for this three-part complimentary webinar series to review important guidance for companies impacted by the COVID-19 pandemic. To join, please register for EACH webinar individually via the links provided below.

Part 1: Employment Provisions of FFCRA and the CARES Act

Thursday, April 23, 1 p.m. ET
In this session, we will address:
  • Emergency paid sick leave and expanded paid family and medical leave;
  • Tips for employers for dealing with COVID-19, including how to handle employees who are sick, have been exposed to the virus, or do not want to come to work;
  • Employee retention credit; and
  • Payroll tax deferral

REGISTER FOR 4/23 WEBINAR HERE

Part 2: Making the Most of SBA Loans

Thursday, April 30, 1 p.m. ET
In this session, we will discuss:
  • Allowable uses of PPP loan proceeds;
  • PPP loan forgiveness provisions, including what uses are, and are not, eligible for loan forgiveness; and
  • What happens to PPP loan proceeds that are not forgiven?

REGISTER FOR 4/30 WEBINAR HERE

Part 3: A Review of the Main Street Lending Program

Thursday, May 7, 1 p.m. ET
In this third session, we will provide an overview of this Program, including:
  • Loan terms;
  • Who is eligible; and
  • How to apply

REGISTER FOR 5/7 WEBINAR HERE