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Banking, Finance & Tax

Though the Federal Reserve has taken immediate measures to mitigate the damage the pandemic may cause to the economy, our experience tells us that businesses need to be prepared to deal with a multitude of issues, including drawing on lines of credit, refinancing fixed rate debt to take advantage of lower interest rates, avoiding defaults and covenant violations, non-renewals of revolving lines, appointment of receivers and loan workouts. Whatever you face, KJK’s Banking & Finance Coronavirus Response Team is here to help. 

     

    Collection During COVID-19

    By Scott Norcross & Paige Rabatin As the world reopens from its COVID-19 hibernation, businesses have continued anxiety as they recognize their customers are facing similar hardships. Businesses start by finalizing cash management plans, but are left with the realization that there’s no cash...

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    SBA Releases Guidance on Forgiveness of PPP Loans

    By Cary Zimmerman and Demetrius Robinson Late on Friday, May 22, 2020, the Small Business Administration (SBA) issued a long-overdue interim final rule providing guidance on how forgiveness will work for Paycheck Protection Program (PPP) loans. We will publish a comprehensive review of the new...

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    Paying Bonuses & Increased Wages With PPP Loans

    ...It’s Possible, But Not Necessarily Advisable By Melissa Yasinow [UPDATE:] Late on Friday, May 22, 2020, the SBA issued new guidelines confirming that bonuses and increased compensation, including hazard pay, are forgivable “payroll costs” under the Payroll Protection Program. The guidelines...

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    PPP Loan Denial Overturned for Company in Bankruptcy

    By Demetrius Robinson & Kyle Stroup On May 1, 2020, the Roman Catholic Church of the Archdiocese of Santa Fe (“Archdiocese”) persuaded a federal judge to overrule the Small Business Association’s (SBA) denial of a Paycheck Protection Program (PPP) loan. The PPP is a small business loan program...

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    PPP Loan Forgiveness Application Released

    By Cary Zimmerman  Overview The application walks borrowers step-by-step through the process of calculating forgiveness and includes worksheets and tables that borrowers must complete, including a list of all employees and their cash compensation during the eight weeks after receipt of the loan....

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    Contact Us

    If you have specific questions about any of the information in our articles, please reach out directly to the author or contact the Chair of the Banking & Finance Response Team, John Archer.

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    Meet our Team

    John Archer

    John Archer

    Chair

    Steven Marrer

    Steven Marrer

    Partner

    Anne Corrigan

    Anne Corrigan

    Partner

    Scott Norcross

    Scott Norcross

    Partner

    Samir Dahman

    Samir Dahman

    Partner

    Peggy Beistel

    Peggy Beistel

    Associate

    Justine Lara Konicki

    Justine Lara Konicki

    Partner

    Paige Rabatin

    Paige Rabatin

    Associate

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