Please ensure Javascript is enabled for purposes of website accessibilityBusiness Law Archives - Page 3 of 4 - Rosenblatt Law Firm
Loading...

Category: Business Law

NEW PAYCHECK PROTECTION PROGRAM (“PPP”) LOAN FORGIVENESS APPLICATION IS NOW AVAILABLE

The Small Business Administration (“SBA”) released two new applications for PPP loan forgiveness on June 18, 2020, which mirror recent revised requirements for PPP loans. Due to widespread criticism of the original forgiveness application’s complexities, these modifications were implemented in efforts to make the borrower’s forgiveness process easier.  Both the “EZ” application, for certain borrowers, and the revised standard forgiveness application are shorter and more user-friendly.  The SBA has also established a helpline to aid borrowers in completing their applications.  The EZ application: (Form 3508EZ) The EZ application is a two-page form which allows borrowers flexibility by requiring fewer documents and calculations. To use the EZ application, borrowers must be: […]

BEXAR COUNTY EXECUTIVE ORDER REQUIRES FACE COVERINGS

On Wednesday, Bexar County Judge Nelson Wolff and San Antonio Mayor Ron Nirenberg issued an executive order in response to growing cases of Covid-19 in the San Antonio area. This order requires that commercial businesses implement and enforce a health policy for customers and staff which includes protective face coverings as a minimum. Businesses failing to comply could be subject to fines of up to $1000. Local businesses are moving to enforce such policies. To see how some San Antonio businesses are handling it, check out this article reported by local news station KSAT. As always, Rosenblatt Law Firm has legal experts standing by to answer your questions.

BUSINESS JOURNALS ARTICLE – JAMES ROSENBLATT

Appearing on an expert panel alongside 14 other legal and business professionals, our own James Rosenblatt was featured in an article by The Business Journals. The article, titled Want to get better at networking? Try these 15 creative strategies, provides useful and unique networking advice for professionals of all industries. Check out the article here. Be sure to visit our business law practice page to see what we’ve accomplished for our clients.

THE PPP FLEXIBILITY ACT

On Friday, June 5th, the President signed into law the Paycheck Protection Program Flexibility Act of 2020 (the “Flexibility Act”), which brought good news to those who have applied for any received Paycheck Protection Program (“PPP”) loans.  The Flexibility Act brought some significant changes to the CARES Act, which originally authorized PPP loans.  The major highlights are as follows: One of the biggest struggles for borrowers has been maintaining the minimum 75% loan expenditure required to be spent on payroll and related expenses.  The Flexibility Act decreased the minimum percentage required to be spent on payroll and related expenses to 60%, meaning 40% can be used on acceptable non-payroll expenses […]

BUSINESS JOURNAL FEATURE – JAMES ROSENBLATT

Discussing the implications of business funding, our own president, James Rosenblatt, was recently featured on an expert panel for an article by The Business Journal. The article, titled 11 factors to consider when you’re choosing a business funding strategy, provided advice for business owners seeking to fund their operations, with answers coming directly from James and 10 other business professionals. Check out the article here. Be sure to visit our business law practice page to see what we’ve accomplished for our clients.

UPDATES ON SMALL BUSINESS LOANS AS OF APRIL 23, 2020

Today, the President signed into law a $310 billion second round of funding for the Paycheck Protection Program (“PPP”), $50 billion for emergency disaster lending, and $10 billion in Small Business Administration (“SBA”) disaster grants.  The SBA is expected to begin taking loan applications again next week. In the first round of funding, many large public companies applied for and received relief funds through the PPP, leaving thousands of small businesses without funding. However, this new round of funding coupled with the changes described below will help small businesses get a second shot at getting their PPP loan approved. It is expected, this second round of funding will be quickly […]

MANAGING YOUR PAYMENT PROTECTION PLAN LOAN

Good News!  You were one of the select few that received a PPP loan and you are ready to close, or just recently closed.  As you should already be aware, over the next eight weeks, your expenditures are going to be essential in determining whether you will receive forgiveness of some portion, or the entire loan.  While there are currently only a few rules to follow, everyone is expecting (and hoping) that additional information will follow because what is known to this point leaves lots of holes.  We are recommending the following to our clients: Create a new bank account or at least isolate the loan money from other funds.  […]

PAYCHECK PROTECTION PROGRAM APPLICATION

Businesses struggling to maintain employment during the COVID-19 outbreak are being offered relief in the form of the Paycheck Protection Program, headed by the Small Business Administration. The program offers loans to small businesses, and we at RLF would like to share a PDF version of the application. As always, our legal experts are available to answer your questions and concerns. Stay safe, San Antonio.

WHAT THE NEWLY PASSED FAMILIES FIRST CORONAVIRUS RESPONSE ACT MEANS FOR YOU

On March 18th, the Senate passed the Families First Coronavirus Response Act (FFCRA) previously passed in the House. This bill will provide benefits to employees and employers amidst the COVID-19 outbreak and subsequent closures of businesses around the country. Our colleagues at Inc. have published a useful article, linked below, on the new FFCRA bill and how it will affect your business. https://www.inc.com/suzanne-lucas/what-senates-passage-of-families-first-coronavirus-response-act-means-for-you.html If you’re looking for more sound legal advice for running your business, visit our Business Law page to see what we’ve helped our clients achieve for their businesses, and learn more about what RLF can do for yours.

HOW TO GET PEOPLE TO PARTICIPATE IN ONLINE MEETINGS

Let’s face it: getting the office together for a meeting isn’t always easy. But when moving your team to working from home, or just for offices with long-distance employees in general, the challenges of meeting online compound. Our colleagues at the Harvard Business Review have put together some rules to help team leaders get their meetings accomplished online and without all the stress. Read the full article below: https://hbr.org/2020/03/how-to-get-people-to-actually-participate-in-virtual-meetings?utm_medium=email&utm_source=newsletter_weekly&utm_campaign=insider_activesubs&utm_content=signinnudge&referral=03551&deliveryName=DM72572 If you’re looking for more sound legal advice for running your business, visit our Business Law page to see what we’ve helped our clients achieve for their businesses, and learn more about what RLF can do for yours.