Congress Passes PPP Reforms

In a major victory for small businesses across the nation, and restaurants in particular, the U.S. Senate passed the Paycheck Protection Program Flexibility Act on Wednesday evening and sent it to the President, who signed it into law late yesterday. The legislation (H.R. 7010), which passed the House last week by an overwhelming vote of…

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US House Passes PPP Flexibility Act

Notwithstanding the above, more changes will likely be coming again regarding the Paycheck Protection Program and its loan forgiveness provisions, as the US House yesterday passed the Paycheck Protection Program Flexibility Act (HR 7010) and sent it to the US Senate. The legislation, if passed by the Senate and signed into law by the President,…

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More Pandemic Insurance Legislation Filed in US House

US Representative Carolyn Maloney, who represents most of East Manhattan along with parts of Brooklyn and Queens in New York City, this week officially filed the latest insurance-targeted legislation relating business interruption insurance. The Pandemic Risk Insurance Act (PRIA) would provide for business interruption insurance coverage going forward and protect businesses in the event of…

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Effort to Amend PPP Provisions in CARES Act

Notwithstanding the above and other requirements of the Paycheck Protection Program, a serious effort is now underway in Washington to amend some of the provisions of the CARES Act. Specifically, the Coalition of Franchisee Associations (CFA) and other business allies in the Nation’s Capital are working to better educate Congress on the needs of the…

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House Bill Would Extend $600 UI Premium

The challenge of hiring enough qualified workers to staff your QSRs would be that much more difficult under the latest CARES Act proposal heading to a vote in the US House as early as today.  Among the wish-list of goodies in the latest $3 Trillion stimulus proposal is an extension through January 2021 of the…

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Congress Eyes Next Round of Relief

Notwithstanding the partisan divide that continues in the Nation’s Capital, Congress is looking at possibly passing another multi-billion to trillion dollar economic relief package when the House returns to DC next week. Republicans and Democrats are divided over what to include, but they have each been floating different ideas that we want to keep watch…

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Congress Replenishes PPP Fund

The US House gave final legislative approval to a bill refunding of the Paycheck Protection Program yesterday with an additional $310 billion and sent the bill to the President Trump, who has already signed it into law. The law immediately provides additional funding to the PPP for forgivable loans to small businesses and with that…

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Business Interruption Insurance Moves to Forefront

With economic relief funding having been passed and signed by the President, a good deal of the focus in Congress is now shifting to questions surrounding insurance coverage and the exclusions found in many – if not most – policies relative to viruses, epidemics, pandemics and the like. Currently, there are no fewer than 4…

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PPP Officially Out of Money

The Paycheck Protection Program (PPP) has officially run out of money as of late Wednesday evening with the entire appropriation of $349 billion having been allocated to small businesses across the country. The Small Business Administration (SBA), which was charged with the administration of the forgivable loan program as part of the massive $2.2 trillion…

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There’s Still An Action Alert on PPP Funding

Notwithstanding the current stand-off in Congress, efforts are still underway in the US Senate to appropriate additional funds for the critical Paycheck Protection Program. As we reported last week, the Coalition of Franchisee Associations (CFA) was asking all franchisees to contact Congress to urge the appropriation of additional funds for this program. This week, that…

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