COVID-19 UPDATE: PAYCHECK PROTECTION PROGRAM FLEXIBILITY ACT OF 2020

On June 5, 2020, the President signed the Paycheck Protection Program Flexibility Act of 2020 (PPP Flexibility Act). The PPP Flexibility Act makes several changes to PPP loans and the loan forgiveness process. These changes include: Extending the loan forgiveness period from 8 weeks to 24 weeks; Changing the percentage of the loan that must […]

COVID-19 UPDATE: INTERIM FINAL RULES ON PPP LOAN FORGIVENESS REQUIREMENTS AND SBA LOAN REVIEW PROCEDURES

On May 22, 2020, the Small Business Administration (SBA) and the Department of Treasury issued two interim final rules related to the Paycheck Protection Program (PPP). The first provides guidance to borrowers and lenders on forgiveness requirements for PPP loans. The second informs borrowers and lenders of SBA’s process for reviewing PPP loans and loan […]

COVID-19 UPDATE: PPP LOAN FORGIVENESS APPLICATION RELEASED

The Small Business Administration (SBA), in consultation with the Department of the Treasury, recently released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application. 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 […]

DOL ISSUES UPDATED COBRA NOTICES AND FAQS

The Department of Labor has posted new model general and election COBRA notices and a short series of FAQs about the model notices.  The revisions do not change application of COBRA. Rather, they provide clarification to employees about the interaction between Medicare and COBRA. The notices make it clear that employees who become eligible for Medicare while they […]

COVID-19 Update: FFCRA Leave Policy and Leave Request Forms Available and Additional Agency Guidance

Businesses continue to navigate the changes necessary to respond to the novel coronavirus and its impact on the workforce, particularly the paid leave requirements of the Families First Coronavirus Response Act (FFCRA). Baylor Evnen has partnered with employers to manage these dynamic circumstances and implement governmental mandates and guidance that are constantly changing. Our employment […]

COVID-19 UPDATE: PAYCHECK PROTECTION PROGRAM

Small businesses can apply for a loan under the Paycheck Protection Program starting tomorrow, April 3, 2020. Please click here for a summary of the Paycheck Protection Program, which was created by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) signed into law last week. These loans are intended to cover payroll costs […]
[/et_pb_section]