COVID-19 Business Resource Center

Publication

As the business challenges around COVID-19 continue to develop, Porter Hedges lawyers are providing clients guidance on issues related to new employment laws, business interruption, financial assistance, and more.

BUSINESS INTERRUPTION

Paycheck Protection Program Flexibility Act of 2020 Amends the CARES Act to Provide Borrowers Additional Relief (06.08.20)
On June 5, 2020, the Paycheck Protection Program Flexibility Act of 2020 (PPPFA) became law providing additional relief to borrowers under the Paycheck Protection Program (PPP). 

SBA Releases Interim Final Rules on PPP Loan Forgiveness (05.26.20)
On May 23, 2020, the Small Business Administration (SBA) released two long-awaited Interim Final Rules (IFR) regarding forgiveness of Paycheck Protection Program (PPP) loans. 

SBA Releases PPP Loan Forgiveness Application (05.18.20)
The Small Business Administration (SBA) published the Paycheck Protection Program (PPP) Loan Forgiveness Application to be completed by borrowers to have their PPP loan forgiven.

SBA Extends Safe Harbor Repayment Date for PPP Loans to May 18 (05.15.20)
The Small Business Administration (SBA) announced an extension to the safe harbor repayment date.

SBA Issues Additional Guidance on Good Faith 'Necessity' Certification of PPP Loans (05.14.20)
On May 13, 2020, the Small Business Administration (SBA) announced additional guidance regarding the good faith “necessity” certification for Paycheck Protection Program (PPP) loans.

Small Business Administration Clarifies "Necessity" of PPP Loans (04.23.20)
On April 23, 2020, the Small Business Administration released additional guidance on the Paycheck Protection Program (PPP), including clarification of the certification required of borrowers as to the “necessity” of the loan.

Texas Governor Defines "Essential Services" (04.06.20)
On March 31, 2020, Governor Greg Abbott issued Executive Order GA-14 which is set to expire on April 30, 2020.  Pursuant to the Order, “every person in Texas shall, except where necessary to provide or obtain essential services, minimize social gatherings and minimize in-person contact with people who are not in the same household.”

CARES Act: Paycheck Protection Program for Small Businesses (04.01.20)
The Paycheck Protection Program provides 100% federally guaranteed loans to small businesses.  This alert covers eligibility, the application process, borrowing limit calculations, and terms of the loan.

Is the Coronavirus Event a Force Majeure or Changed Condition Event? (03.26.20)
We think it qualifies as both.

Small Business Economic Injury Disaster Loans (03.20.20)
The Small Business Administration (SBA) has designated COVID-19 as a qualifying event for the provision of Economic Injury Disaster Loans to small businesses and private non-profits.

COVID-19 Made Performance Impossible – Now What? (03.16.20)
Review your existing contracts and determine whether they contain force majeure clauses.

EMPLOYMENT

New DOL Regulations Clarify Families First Coronavirus Response Act's COVID-19 Paid Leave Policy (04.09.20)
April 6, 2020 Department of Labor Regulations offer important clarifications and interpretations of the Families First Coronavirus Response Act's paid leave policy for workers impacted by COVID-19.

New Paid Leave Policy Offers Broad Federally Mandated Leave for COVID-19 Relief (3.19.20)
The Families First Coronavirus Response Act enacts new provisions around both emergency paid leave and paid sick leave. (03.31.20 Update) Secretary of Labor Publishes Poster on Family and Medical Leave: Employers must post this notice by April 1, 2020 on site, via email, or on a company information website.

What Measures Should Employers Implement to Ensure a Safe Working Environment in Response to COVID-19? (03.25.20)
Employers should review guidance set forth by the CDC, EEOC, and OSHA to ensure a place of employment "free from recognized hazards that are causing or are likely to cause death or serious physical harm."

Practical Tips on the Harris County and Houston-area ‘Stay Home, Work Safe’ Order (03.25.20)
Answers to some of the most common questions regarding the Harris County stay at home order.

MORTGAGE RELIEF

Federally-Backed Mortgage Assistance Under the CARES Act (03.31.20)
The CARES Act provides for mandatory mortgage payment deferrals for both federally-backed single family mortgages and federally-backed multifamily mortgages, as well as issue foreclosure and eviction moratoriums.

COMPLIANCE

Ensuring Compliance During the COVID-19 Epidemic (04.01.20)
Businesses must not lose sight of the policies and procedures that guard your business from compliance risk.

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Porter Hedges Update Regarding COVID-19 (03.16.20)
Our firm is taking measures to protect everyone in our office while ensuring that we continue to support our clients.