Articles Posted in Public Policy

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New Small Business Administration (SBA) guidance implementing the Paycheck Protection Program (PPP) confirms that a somewhat narrower set of affiliation principles now applies to SBA loan programs, including the PPP. In “COVID-19 Relief: SBA Issues Regulations & Guidance on the Payroll Protection Program,” colleagues Alexander B. GinsbergDavid B. DixonJohn E. JensenShaalu Mehra and Steven A. Kaplan discuss how the SBA issued interim regulations and guidance on the Paycheck Protection Program, including confirmation of “affiliation” rules that may leave many companies affiliated with their investors and other businesses.

 

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The CARES Act provides $350 billion for small business Paycheck Protection Loans and an additional $10 billion for the existing Economic Injury Disaster Loan program. Colleagues David Miller and Zachary Bailey describe the new Paycheck Protection Loan Program and the existing Economic Injury Disaster Loan Program below. These are complex programs, with regulations still being developed by the Small Business Administration.

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Due to the spread of COVID-19, companies are facing unique challenges to their businesses, including supply chain interruptions, employee and customer safety concerns and government regulations, restrictions and shutdowns. In “COVID-19: Understanding Business Interruption Insurance and Wide-Impact Catastrophes,” colleagues Joseph D. JeanEric M. GoldMatthew F. PutortiJanine StaniszTamara D. Bruno and Brendan Hogan discuss how policyholders can expect insurers to put forth strong objections to many of their claims in an effort to reduce the liability exposure.

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