CAMICO continues to monitor the information and guidance on COVID-19 relief measures being put into place by regulatory and legislative bodies to combat the detrimental impacts of this pandemic on people, as well as on the economy.
As many counties and states loosen COVID 19–related restrictions for employers across the country, more questions than answers arise regarding best practices in return-to-work procedures.
Potential Legal and Regulatory Risks Regarding Small Business Eligibility for Paycheck Protection Program (“PPP”) Loans
President Trump signed the Paycheck Protection Program and Health Care Enhancement Act (“Enhancement Act”) on Friday, April 24th. This legislation infuses $310 billion into the Paycheck Protection Program (“PPP”) with more than $250 billion in unrestricted funds for the program and an additional $60 billion allocated specifically for smaller lending institutions.