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Please Click HerePosted on April 3, 2020 by Amy E. Ebeling
An updated PPP application has been released and it is our understanding that this updated application is the ONLY application that will be accepted by lending institutions. The updated form can be accessed here. The PPP loan is also FIRST COME, FIRST SERVE so submit your applications as soon as possible beginning today, April 3rd, 2020. We […]
Posted on April 3, 2020 by Joseph M. Mella
As we enter a new month with the rental landscape changed in dramatic ways by the coronavirus pandemic, landlords will undoubtedly be facing requests from tenants for rent relief. As you proceed to address these requests, some of the lessons from the last economic recession are applicable today. Before you begin discussions, consider obtaining a […]
Posted on April 2, 2020 by Amy E. Ebeling and Mary Ellen Schill
The SBA released the Interim Final Rule announcing more information on the Paycheck Protection Program. The Interim Final Rule provides some program clarifications, but also provides some program changes. Note, the applicable interest rate is now 1%. There is also more information on how to calculate payroll costs to determine the maximum loan amount including examples. […]
Posted on March 31, 2020 by Amy E. Ebeling and Mary Ellen Schill
The SBA and Treasury moments ago released updated information on the new Paycheck Protection Program created by the CARES Act. The program is specifically designed to help small businesses (less than 500 employees) keep their workforce employed by providing an SBA guaranteed loan. The program also provides for forgiveness of the loan proceeds that are […]
Posted on March 30, 2020 by Daniel R. Peters
Businesses often carry insurance to cover losses caused by a variety of events or perils. Restrictions, closures, whether voluntary or not, and policies related to COVID-19 are negatively impacting businesses and affecting bottom lines. As a result, business owners are asking whether they are insured for their losses due to COVID-19 like they might be […]
Posted on March 30, 2020 by Joseph M. Mella
Over the past two weeks, Governor Evers has continued, through the Department of Health Services, to issue Emergency Orders related to the COVID-19 health crisis. One area of his focus has been to restrict real estate landlords’ activities. In his now seemingly old Emergency Order #12 (from last week Tuesday, March 20!), that imposed the […]
Posted on March 27, 2020 by Sara J. Ackermann, Mary Ellen Schill and Amy E. Ebeling
After much negotiation over the past few days, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) into law, a $2 trillion stimulus package aimed at providing critical economic relief to Americans affected in the wake of the COVID-19 outbreak. Big Picture With a combination of direct payments, grants, loans […]
Posted on March 27, 2020 by Jeremy M. Welch
The extent to which COVID-19 will cause financial distress, or even financial ruin, to businesses throughout the State of Wisconsin is yet to be determined. We do know, however, that there will be many businesses that struggle to maintain sufficient cash to survive the mandatory shutdowns and the loss of revenue resulting from the pandemic. […]
Posted on March 27, 2020 by Sara J. Ackermann, Mary Ellen Schill and Amy E. Ebeling
Earlier this week we sent you a link to the DOL website with 14 FAQs regarding the Families First Coronavirus Response Act (FFCRA). Those FAQs were not earth-shattering but NOW we have 22 more FAQs with very good insight on several topics, documentation (you CAN require it), and whether the leave is available for employees […]
Posted on March 27, 2020 by Ruder Ware Alumni
As the number of COVID-19 cases keeps increasing, it is time to revisit the question of whether employers are supposed to record COVID-19 cases as work-related illnesses under OSHA regulations. OSHA requires that covered employers record COVID-19 cases on their logs if the following criteria are met: The illness has been confirmed by a laboratory […]