Business

The CARES Act funding of the SBA Paycheck Protection Loan Program (PPP Loan) ran out last week. While the news was spreading about the millions scooped up by Shake Shack and Ruth Chris Steak House chains, some small business owners were uploading loan applications to their banks they were suddenly met with pop-up messages and web banners stating that funding had run out.  <insert sad business owner image here>  But here is why small business owners should still apply.

Just in from the Nantucket Chamber of Commerce: In response to the COVID-19 National Emergency, the SBA Express Bridge Loan (EBL) Pilot Program has been modified and the term extended. The EBL Pilot Program is designed to supplement the Agency’s direct disaster loan capabilities and authorizes SBA Express Lenders to provide expedited SBA-guaranteed bridge loan financing on an emergency basis in amounts up to $25,000 for disaster-related purposes to small businesses located in communities affected by Presidentially-declared disasters while those small businesses apply for and await long-term financing (including through SBA’s direct Economic Injury Disaster Loan Program, if eligible).

News from Schwartz Hannum PCLast Friday, the Massachusetts Attorney General's Office issued its eagerly-anticipated final regulations under the new Massachusetts earned sick time law, which goes into effect on July 1, 2015. The final regulations, which significantly amend the proposed regulations issued earlier this year,...