COVID EIDL Enhancements
The U.S. Small Business Administration (SBA) recently announced enhancements to its COVID-19 Economic Injury Disaster Loan (EIDL) program, which is intended to provide critical access to capital for the industries hardest hit by COVID-19. The enhancements of the COVID-19 EIDL available to small businesses became immediately effective on September 8, 2021, and will run through […]
Vaccine May Be Required By Private Sector Employers with 100+ Employees
As part of President Biden’s six-pronged, comprehensive national strategy to combat the COVID-19 pandemic, he has announced the first ever federal vaccine mandate to apply to private employers. In the coming weeks, the Department of Labor’s Occupational Safety and Health Administration (OSHA) is likely to issue an Emergency Temporary Standard that would require all private […]
Stephanie Kobal Koenig To be Panelist in LVB Leadership Series Webinar
On Wednesday, April 28 at noon, FLB Real Estate & Employment Law attorney Stephanie Kobal Koenig will be a panelist in the Lehigh Valley Business Leadership Series webinar, “Positioning Your Business in a Post COVID Economy.” This free webinar will feature Ms. Koenig and other local leaders as they discuss what companies should be doing […]
American Rescue Plan (ARP) Act of 2021 Notes and Highlights
The American Rescue Plan Act of 2021 (the “ARP”) is the latest in Coronavirus relief legislation. On March 10, 2021, the House of Representatives passed the bill as amended by the Senate. President Biden signed the ARP into legislation on March 11. Below is a summary of the provisions that will have a direct impact […]
Tax Treatment of PPP Loans – Where Do We Stand?
When the CARES Act was passed in March 2020, one area that remained uncertain was the tax treatment of the Paycheck Protection Program (PPP) loan forgiveness and whether it would be treated as taxable income to borrowers who had this debt discharged. The way this forgiveness would be handled potentially affected the millions of businesses […]
Pennsylvania Entities – Time to Get Your Decennial Filings Ready
It’s 2021, so that means it’s time for Pennsylvania businesses and organizations to get their decennial filings ready. Every ten years, Pennsylvanian entities must submit a decennial filing or decennial report during the years ending with the numeral “1”, (i.e., 2011, 2021, 2031). The objective of these filings is for the state to reissue names […]
Paycheck Protection Program Round Two – Are You Eligible to Pursue a Second Loan?
On Monday, January 11, 2021, the U.S. Small Business Administration (the SBA) along with the Treasury Department re-opened the Paycheck Protection Program (PPP) for both new and existing borrowers. This article focuses on existing PPP borrowers and outlines the steps to take to apply for a second draw PPP loan. Business principals considering a PPP […]
Northampton County Reopened Its COVID-19 Relief Grant Program
Good news for small businesses. On November 20, 2020, the Northampton County COVID-19 Relief Small Business Grant Program re-opened and is currently accepting applications. Northampton County Council has approved this Grant Program, in partnership with the Greater Lehigh Valley Chamber of Commerce, that will distribute $1.3 million dollars of CARES Act Funds to Northampton County […]
Paycheck Protection Program (PPP): Beware of Email Scams
The United States Small Business Administration (SBA) has issued a warning about email scams related to the Paycheck Protection Program (PPP) and its borrowers. Borrowers are reporting receiving emails from “sba-attorneys.com” that inform the recipient PPP funds were issued to them erroneously and action must be taken to avoid “potential criminal liability.” This email is […]
SBA Procedural Notice for PPP Loan Forgiveness
On July 23, 2020, the Small Business Administration (SBA) issued a procedural notice to lenders participating in the Paycheck Protection Program (PPP) concerning the loan forgiveness application process. The notice informs lenders that beginning August 10, 2020, they may begin submitting forgiveness applications through an online platform. The notice states that the SBA intends to […]