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Congress Passes Another Round of Coronavirus Relief for Small Businesses

Client Alert
April 24, 2020

Today President Trump signed into law another round of coronavirus relief aimed at helping small businesses during this public health emergency. The bill contains a total of $484 billion in additional aid. The majority of funds in this bill are dedicated to replenishing the Paycheck Protection Program (“PPP”), which gives small businesses loans to cover payroll costs that could be forgiven if specific requirements are followed. Congress initially funded the PPP in March with $350 billion, but this amount was exhausted as of April 16, 2020.

Most notably, the new legislation adds $310 billion to the PPP. Of these funds, $2.1 billion are earmarked for salaries and expenses to administer programs related to the coronavirus, $50 billion will go towards the Economic Injury Disaster Loan (“EIDL”) program, and $10 billion is set aside for Emergency EIDL grants/advances.

Further, the bill provides $100 billion to the Department of Health and Human Services for the Public Health and Social Services Emergency Fund. These funds include $75 billion to reimburse health care providers for health care related expenses (e.g., building/construction of temporary structures, leasing of properties, medical supplies, equipment, increased workforce and training, and surge capacity) or lost revenues that are attributable to the coronavirus. This relief is available for Medicare/Medicaid enrolled providers, including physician practices and hospitals that are diagnosing, treating, and caring for actual/potential coronavirus patients and the method of dispersal will be announced soon. The other $25 billion is set for expenses to research, develop, and manufacture coronavirus tests and increase the country’s testing capacity. Increased testing dollars are spread amongst the states, the Centers for Disease Control and Prevention, the National Institutes of Health, the Food and Drug Administration, Community Health Centers, Rural Health Centers, and testing for the uninsured.

Please contact a BMD attorney should you have any additional questions regarding this new economic stimulus bill, questions on how to take advantage or apply for these programs, or general questions related to the coronavirus and its economic impact.

coronavirus reliefsmall businessespublic health emergencyPPPpaycheck protection programpayrollEconomic Injury Disaster LoanEIDLEmergency EIDL grants/advancesDepartment of Health and Human ServicesHHSPublic Health and Social Services Emergency Fund
Client Alert

COVID-19 Small Business Loan Relief Guidance - Updated April 8, 2020

April 8, 2020Economic Action Plan for Clients Our legal and business crisis response team has collaborated with lending institutions in Ohio and Florida to advise small businesses with regard to the loans available due to the COVID-19 health and economic crisis. There are several loan options that may work for you, and we have also added a section for Frequently Asked Questions. For more information, please contact your primary BMD attorney and they would be happy to assist you in developing an Economic Relief Action plan for your business.Client Alert

Paid Leave for Coronavirus: Department of Labor Issues Its Temporary FFCRA Rule

April 8, 2020The Department of Labor issued its Temporary Rules under the Families First Coronavirus Response Act (FFCRA) pertaining to the Emergency Paid Sick Leave Act (EPSLA) and the Emergency Family and Medical Leave Expansion Act (EFMLEA). The rule became operational on April 1, 2020 and was officially published on April 6, 2020.Client Alert

Florida’s “Stay-at-Home” Order and What it Means for Businesses

April 3, 2020On April 1, 2020, in response to the State’s ongoing efforts to fight the spread of COVID-19, Governor Ron DeSantis issued Executive Order 20-91, which is State-wide “Stay-at-Home” Order. The Order goes into effect Friday, April 3, 2020 at 12:01 a.m., and expires on April 30, 2020, unless extended by subsequent order (the full text of the order is available here).Client Alert

CMS Offers New Stark Waivers and More Flexibility to Health Care Providers Due to COVID-19

April 2, 2020On March 30, 2020, the Centers for Medicare & Medicaid Services (CMS) issued several temporary regulatory waivers to further enable the American healthcare system to respond to the COVID-19 pandemic with more efficiency and flexibility. The official publication can be found here: Physicians and Other Clinicians: CMS Flexibilities to Fight COVID-19.Client Alert

#CancelRent – What’s Next for Landlords?

April 2, 2020Across the country, residential tenants, small businesses, and even national retailers such as Cheesecake Factory, Subway, and Mattress Firm have declared war on their landlords by refusing to pay rent on account of the Covid-19 pandemic (“COVID-19”). This has sent shockwaves through the real-estate industry. As of April 1st, residential tenants owe an estimated $40 Billion in rent. Estimates for the commercial sector are not far off. So far, federal, state, and local measures have focused on providing relief to residential and commercial tenants and even to some commercial landlords.
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