On May 1, 2020, Indiana Governor Eric Holcomb signed Indiana Executive Order 20-26, which unveiled his “Back on Track” five-stage plan to incrementally reopen the state’s economy.
The order requires all Indiana b...Read More
Businesses attempting to rehire employees who refuse to rejoin the workforce can exclude those employees from Paycheck Protection Program (“PPP”) loan forgiveness reduction calculations. This is according to new FAQ guidance from the Small Business Administration (“SBA”) and...Read More
The safe harbor deadline for businesses to repay their Paycheck Protection Program ("PPP") loan amount in full and maintain a certification of good faith has been extended to May 14, 2020. Borrowers do not need to apply for this extension.
Update April 29, 2020: The Treasury and SBA confirmed in their April 29th FAQ Update that all loans in excess of $2 million, “in addition to other loans as appropriate,” will be subject to review by the agencies. Additional information regarding these audits i...Read More
Indiana Case Law Indicates When Force Majeure Provisions Might Excuse Failure to Perform Contractual Obligations Amid the Coronavirus
With so many protective restrictions on commerce, businesses and individuals are worried that they, or the other parties with whom they contract, will not be able to keep up with their contractual obligations. The unique, unprecedented circumstances of the coronavirus make i...Read More
The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, signed into law on March 27, 2020, included over $2 trillion for economic stimulus and support, with $349 billion earmarked to provide support for small businesses via the Paycheck Protection Program (“PPP”) o...Read More