BW INSIGHTS

Federal Reserve Expands Main Street Lending Program to Nonprofit Organizations

By BrownWinick | 07.21.2020
On July 17th, 2020, the Federal Reserve Board modified the Main Street Lending Program (Program) to provide greater credit opportunities to nonprofit organizations. The Program offers loans to businesses that were in sound financial condition before the Covid-19 pandemic hit. The new regulations allow a wider range of nonprofit entities such as... Read More

IRS Updates Guidelines to Allow Deferral of Employer Social Security Tax

By BrownWinick | 07.15.2020
Following the passage of the Paycheck Protection Program Flexibility Act of 2020 (PPPFA), the Internal Revenue Service (IRS) has updated their FAQ regarding an employer’s ability to defer Social Security taxes. Now, even employers that have received partial or full forgiveness of their PPP loan may defer the payment of Social Security taxes due... Read More

130B Unallocated Loan Funds, Senate Passes Unanimous Consent to Extend PPP

By BrownWinick | 07.01.2020
Just before the deadline passed at midnight on Tuesday, June 30, the U.S. Senate passed by unanimous consent an extension to the Paycheck Protection Program (PPP) that would allow small businesses until August 8, 2020 to apply for a loan. More than 4.8 million small business owners have received over $520 billion in relief through the PPP so far –... Read More

M&A During COVID-19

By BrownWinick | 06.26.2020
If you’re wondering what impact the COVID-19 crisis has had on the M&A world, you’re asking the right question. There is no doubt this pandemic caused turbulence in the financial market, but it may not all be bad news. While some companies are treading carefully during this uncertain economic state, others are moving quickly to secure strategic... Read More

Main Street Lending Program

By BrownWinick | 06.25.2020
Update: On Monday July 6 the Main Street Lending Program became fully operational. This program is meant to shore up small and mid-sized American businesses that were in good financial standing prior to the pandemic. However, the program might have difficulty garnering support from the nation’s largest financial institutions—lenders like JP Morgan... Read More

Long-term Impact of COVID-19 on Contracting

By BrownWinick | 06.23.2020
The coronavirus pandemic has permanently transformed the default structure of contractual relationships between business entities. In the past few months, the use of force majeure clauses and the doctrines of impracticability/impossibility and frustration of purpose have skyrocketed as businesses attempt to terminate unfavorable agreements. This... Read More

Insurer Response to COVID Claims by Businesses

By BrownWinick | 06.22.2020
Nearly three months after COVID made its first appearance in the U.S., many businesses remain closed or operating on a limited basis, resulting in disastrous financial implications. One potential strategy to mediate the financial impact for many is business interruption insurance. However, insurance companies are weary of paying out business... Read More

SBA Reopens Economic Injury Disaster Loan Program to All Eligible Small Businesses and Non-Profits Impacted by COVID-19

By BrownWinick | 06.17.2020
The U.S. Small Business Administration (SBA) has reopened its Economic Injury Disaster Loan Program (EIDL) to eligible small businesses and non-profits in all U.S. states and territories. This program provides loans at low interest rates and other forms of assistance to eligible organizations navigating the economic impact of COVID. EIDL loans may... Read More

COVID-19 Back-to-Business Limited Liability Act Awaits Governor’s Signature

By BrownWinick | 06.16.2020
Last week, the Iowa General Assembly passed Senate File 2338. The legislation includes the COVID-19 Response and Back-to-Business Limited Liability Act. The Act, which applies retroactively to January 1, 2020, provides liability protection from civil actions relating to COVID-19 exposure to certain “premises,” including real property serving a... Read More

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