PPP Loan Update – May 20, 2020

In the event your business applied for and received a PPP loan, there were two developments last week that address some lingering questions. Also, it has been reported that there is still money available under the expanded PPP loan program, so it is not too late to apply if you have not already done so.

Slowly Resuming Business in the Covid Era

By Todd Masuda   On May 1, 2020 the Ohio Health Director’s “Stay Safe Ohio Order” – the updated pandemic order – took effect as many Ohio businesses hurried to reopen in the wake of Governor DeWine’s “Responsible Restart Ohio” announcement earlier this week. The new Order and Restart guidelines relax the ban on many businesses that have been unable … Read More

COVID-19 Update for Ohio Employers – April 27, 2020

Employers “Reopening” Businesses Must Update Employment Policies By Todd Masuda   This afternoon Governor DeWine introduced guidelines for relaxing some of the business restrictions set forth in Ohio’s stay-at-home order. As employers determine how they move to reopen, it’s time to focus on workplace policies. As we relax pandemic workplace protocols, it’s clear that employers will be obliged to take … Read More

CARES Act PPP Loan Update for Self-Employed – April 15, 2020

Treasury Department Issues Further PPP Loan Guidance for the Self-Employed By: Richard Colella, Partner Last night, the SBA issued guidance to lenders and applicants regarding the particulars of the Paycheck Protection Program (“PPP”) loans, which answered several questions concerning how self-employed individuals are to access PPP loan funding.  “Self-employed” for this purpose means any business that passes through its business … Read More

Federal Reserve Announces New Loan Program – April 9, 2020

To date, the federal government has created several new programs to help businesses weather the economic fallout of the COVID-19 pandemic and the resulting stay-at-home orders and loss of business.  These measures include the Paycheck Protection Program (PPP), an expansion of the Economic Injury Disaster (EID) Loan program, SBA loan payment holidays and payroll tax deferral and credits.  Today, the … Read More

COVID-19 Update for Ohio Employers – April 7, 2020

Furloughing Employees as an Option for Private Ohio Employers By Todd Masuda Many businesses have been compelled to shut down as a result of the coronavirus crisis, laying off their workers and hoping the closure will be temporary. Normally those workers would apply for state unemployment and become eligible for COBRA continuation coverage, but now private employers may an option … Read More

COVID-19 Update – Paid Sick Leave Guidance – April 3, 2020

Paid Sick Leave Guidance You Can Use Right Now! By Todd Masuda The Families First Coronavirus Response Act (FFCRA) paid sick leave law took effect on April 1, 2020. On March 31, 2020 the IRS came out with guidance on the paid sick leave key questions we discussed on Monday, in a concise FAQ. The next day (the actual effective … Read More

SBA Updates PPP Loan Guidance

CARES Act: PPP Loan Update (April 3, 2020) Last night, the SBA issued guidance to lenders regarding the particulars of the Paycheck Protection Program (“PPP”) loans, which answered some lingering questions (but not all, see below).  In addition, a modified application form was issued and, given the ability of banks to just rely on the applications, this should be the … Read More

COVID-19 Update for Ohio Employers – April 2, 2020

Interpreting the State of Ohio Amended Stay at Home Order Issued April 2, 2020 By: Todd A. Schrader, Esq. Gov. Mike DeWine announced on Thursday, April 2, 2020 that Ohio’s “Stay at Home Order” has been extended until May 1, 2020 because of the ongoing coronavirus threat. The initial Order was issued on March 22, 2020 and expires April 6, … Read More

COVID-19 Related Federal Government Guides

Amidst the many summaries, memos and commentaries that are circulating, we have found the following guides from the U.S. Senate Committee on Small Business and Congresswoman Marci Kaptur’s Office to be useful for summarizing available governmental relief programs.  Please feel free to contact SSEG with any questions you may have regarding the available programs and the most recent developments. The … Read More