Paycheck Protection Program

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The CARES Act established a $349 billion U.S. Small Business Administration Paycheck Protection Program to provide immediate access to capital for small businesses who have been impacted by COVID-19. On April 13, 2020, Texas Governor Greg Abbott provided additional guidance to Texas employers when he announced that investment banking, securities and investment management firm, Goldman Sachs, will partner with San Antonio-based nonprofit organization, LiftFund, to provide $50 million in loans to small businesses.
Continue Reading Texas Governor Announces $50 Million Loan Program for Texas Small Businesses through Goldman Sachs/LiftFund Partnership

On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act into law. One aspect of the CARES Act, the Paycheck Protection Program, permits certain employers to obtain forgivable loans in order to keep employees on the job and to pay overhead costs. …
Continue Reading 10 Fast Facts Small Business Owners Should Know About the Paycheck Protection Program

On March 27, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act, an unprecedented $2 trillion economic rescue plan in response to the COVID-19 pandemic.  Our firm has previously summarized the CARES Act’s tax and health and retirement benefits provisions.  Below, we summarize additional aspects of the Act that impact the workplace.
Continue Reading Key Employment-Related Provisions In Newly-Enacted CARES Act