Between the Lines Blog

Agent Fees and the Payment Protection Program
Category: Banking, Business, Class Action, Coronavirus (COVID-19), Legislative Updates
Last week, Arkansas saw its first class action where “agents” claimed entitlement to payment of fees under the Payment Protection Program (PPP).[1] This class action illustrates another area of confusion surrounding the administration of the CARES Acts (the “Act”). Congress created the PPP as part…
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Bankruptcy Courts are Easing Traditionally Rigid Lease Payment Requirements for Commercial Tenants In COVID-Related Filings
Category: Banking, Bankruptcy, Restructuring & Creditor-Debtor Rights, Business, Coronavirus (COVID-19), Litigation
Bankruptcy courts in multiple jurisdictions have granted tenant-friendly relief to companies that have filed for Chapter 11 bankruptcy in recent months. While the Bankruptcy Code typically requires timely performance of lease obligations under 11 U.S.C. § 365, bankruptcy courts have employed…
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The SBA Is Accepting New CARES Act Applications; Can Businesses Apply For More Than One Loan?
Category: Banking, Business, Coronavirus (COVID-19)
The President signed the Paycheck Protection Program and Health Care Enhancement Act into law on April 24, 2020, injecting an additional $484 billion in aid to supplement the SBA business loan programs created under the CARES Act. In particular, the new Act dedicated the following SBA funds: An…
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CARES Act Main Street Loan Facilities Now In Place
Category: Banking, Coronavirus (COVID-19)
Under the Coronavirus Aid, Relief and Economic Security Act (CARES Act), the Federal Reserve System was given the discretion to create a Main Street Lending Program to support small and mid-sized businesses. On Thursday, April 9, 2020, the Federal Reserve released the terms of the Main Street New…
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COVID-19 UPDATE: SBA Issues Updated Lender and Borrower PPP FAQs
Category: Banking, Business, Coronavirus (COVID-19)
The Paycheck Protection Program (the “PPP”) established under the Coronavirus Aid, Relief and Economic Security (CARES) Act authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. We have published information on PPP here. The U.S…
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