Coronavirus Impact Updates

Showing 4 posts from March 2021.

CDC Extends Eviction Moratorium for Non-Payment of Rent to June 30, 2021

Coronavirus

While there have been several legal challenges to the Centers for Disease Control and Prevention (CDC) nationwide moratorium on residential evictions for non-payment of rent, on March 29, 2021 the CDC extended the moratorium through June 30, 2021. As many are aware, the moratorium prohibits eviction of covered persons (see prior law alert here for more details) for non-payment of rent while the moratorium is in place. Full payment of all past due and current rent due is payable upon the expiration of the moratorium.

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American Rescue Plan Adds $7.25B in Paycheck Protection Program Funding

Coronavirus

After being the focus of the Coronavirus Aid, Relief, and Economic Security (CARES) Act and the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (EAA) of the Consolidated Appropriation Act of 2021 (CAA), the Paycheck Protection Program (PPP) is only a small part of the American Rescue Plan (ARP) that the president signed on March 11. The ARP adds $7.25 billion in additional funding to PPP but does not extend the PPP's current application period or deadline of March 31, 2021. 

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Assistance to Shuttered Venues FAQs Updated

Coronavirus

On December 27, 2020, funding for the Shuttered Venue Operators Grant (SVOG) program (Program) was signed into law with the Consolidated Appropriations Act of 2021 (CAA). The U.S. Small Business Administration (SBA) continues to update answers to frequently asked questions regarding the Program. On February 28, 2021 and March 5, 2021, the SBA updated the frequently asked questions, which can be found here. Below are highlights of certain parts of the updated FAQs to assist potential applicants in considering the Program and preparing to file, if eligible.

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Updated PPP FAQs – Second Draw PPP Loans

Coronavirus

On March 3, 2021, the U.S. Treasury Department in conjunction with the Small Business Administration (SBA) posted an updated set of “frequently asked questions” (FAQs) concerning the Paycheck Protection Program (PPP). These FAQs are tied to the changes and continuation of the PPP loan program enacted under the Consolidated Appropriations Act, 2021 (CAA). The updated FAQs reflect changes or clarifications made to existing FAQs mainly to assist Second Draw PPP borrowers. Below is a summary of certain FAQs. A full copy of the FAQs can be found here.

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