Late Tuesday June 30, 2020, just a few hours before the expiration of Paycheck Protection Program (PPP), the Senate voted to extend the PPP five more weeks. The move was made to allow eligible small businesses that have not applied or been denied a loan under the PPP more time to claim the remaining $129 million in the program.

Continue Reading Paycheck Protection Program Extension

The Small Business Administration (SBA) released updates to the Paycheck Protection Program loan forgiveness application. A majority of the updates reflect the changes from the Paycheck Protection Program Flexibility Act (Flexibility Act). You can find our alerts regarding the Flexibility Act here and the SBA’s Updated Interim Final Rule here.

Continue Reading Update to PPP Loan Forgiveness Application

New Jersey Attorney General, Gurbir Grewal, directed all New Jersey law enforcement agencies to disclose the names of officers who have been fired, demoted or suspended for more than five days. The directive requires the disclosure of fired, demoted or suspended officers names by the end of the year. The directive further mandates the ongoing release of this information.

Continue Reading New Jersey Attorney General Orders the Release of Police Officers’ Names Who Committed Serious Misconduct

With each passing day, we are one step closer to finding a vaccine that will bring this devastating chapter in our personal, and business lives to a conclusion. Until that day comes, there are multiple steps businesses should take in order to protect the health and safety of employees, and customers while ensuring the survival of your business.

Continue Reading 5 Things to Keep in Mind for Your Business During the Coronavirus Pandemic

On June 11, 2020, the Small Business Administration (“SBA”) issued an additional Interim Final Rule to amend the First Interim Final Rule that was issued April 2, 2020. The June 11th Interim Final Rule was released to reflect the modifications to the Paycheck Protection Program (PPP) by the Paycheck Protection Program Flexibility Act (“Flexibility Act”) that we summarized here. Most of the June 11th Interim Final Rule is a reiteration of the Flexibility Act, however the Interim Rule provides a clarification concerning payroll costs and loan forgiveness.

Continue Reading Paycheck Protection Program Update

As previously posted in our May 16th alert, the New Jersey Economic Development Authority (“NJEDA”) announced an additional $50 million from the federal government to replenish the New Jersey Small Business Assistance Grant program that was established to help those small businesses impacted by COVID-19.

On May 22, the NJEDA board voted to expand the program to provide grants up to $10,000 to qualified businesses and expand eligibility requirements. Additionally, the NJEDA voted to reserve $15 million for businesses in Opportunity Zones.


Continue Reading Second Update: New Jersey Small Business Assistance Grant

The Small Business Administration (SBA) recently published the borrower application to request loan forgiveness for a Paycheck Protection Program loan (PPP Loan). The form and instructions inform Borrowers how to apply for forgiveness of their PPP Loans, consistent with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

Borrowers can apply for forgiveness at the conclusion of the eight-week covered period, which begins with the disbursement of their loans. Borrowers can find the PPP loan forgiveness application here and submit it to their Lender.


Continue Reading PPP Loan Forgiveness Application Released

The New Jersey Economic Development Authority (“NJEDA”) launched the New Jersey Small Business Assistance Grant program wherein the NJEDA allocated $5 million to the program to provide grants up to $5,000 to small businesses in retail, arts, entertainment, recreation, accommodation, food service, and other services — such as repair, maintenance, personal, and laundry services — and nonprofits to stabilize their operations and reduce the need for layoffs or furloughs during the COVID-19 pandemic. You can see our original post regarding the program here.

Continue Reading Update: New Jersey Small Business Assistance Grant

On April 23, 2020, the Small Business Administration (“SBA”) posted FAQ #31 concerning the Paycheck Protection Program (“PPP”), stating in relevant part that borrowers should review their application to assess their economic need for a PPP loan. Specifically, borrowers should determine if in good faith they can make the certification that “[c]urrent economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.”

Continue Reading New Guidance Posted Regarding PPP Loan Certification