Updates
October 12, 2020

Coronavirus (COVID-19) Legal Resources for Business

Keep your business in the know during the COVID-19 outbreak.

With information concerning the Coronavirus (COVID-19) rapidly evolving, DRM is committed to providing you relevant and timely guidance on how to navigate this challenging time. We will update this site regularly as new information emerges. For immediate assistance or questions on a particular topic, please contact a member of our team.


RECENT DEVELOPMENTS

  • October 8, 2020: The SBA issued an interim final rule in conjunction with the U.S. Department of Treasury, providing for a simplified forgiveness application for recipients of PPP loans of $50,000 or less. Here are the details.
  • October, 2, 2020: On Friday, October 2, the SBA issued a procedural notice regarding PPP Loans and Changes of Ownership. The Notice provides some level of clarity for SBA Employees and PPP lenders as to what to do if a PPP borrower undergoes a change of ownership. Read Mary Parent's write-up.
  • September 25, 2020: Previous guidance regarding the Vermont Coronavirus Emergency Economic Recovery Grants issued by the Vermont Department of Taxes or the Vermont Agency of Commerce and Community Development stated that all businesses receiving a Vermont Coronavirus Emergency Economic Recovery Grant must spend the grant money by December 30, 2020. Guidance was updated today to clarify that businesses do not need to fully expend these grant funds by December 30, 2020. If businesses need and are able to, they can retain the grant funds for expenses that occur in 2021 and beyond. Those businesses qualified for an economic recovery grant by demonstrating a business loss in 2020 due to COVID-19; there is no additional requirement to spend the grant funding by December 30, 2020.

  • September 22, 2020: Vermont’s Economic Recovery Grant Program is fully subscribed and not taking new applications at this time. The Legislature is working on another round of money for the program and ACCD is expected to announce details of that program soon.
  • September 18, 2020: New Hampshire Governor Chris Sununu issued Executive Order 2020-18, extending the State of Emergency for an additional period of 21 days.
  • September 11, 2020: Governor Scott announced Vermont’s COVID-19 State of Emergency is extended to October 15, 2020. Read the full Addendum 5 to Amended and Restated Executive Order No. 01-20.
  • August 27, 2020: The New Hampshire Bureau of Infectious Disease Control released COVID-19 General Travel and Quarantine Guidance, & Employer Screening and Exclusion Criteria.

Disclaimer: If you are wondering if your EIDL or PPP loan application has been accepted or approved by the SBA, please reach out to your lender or District SBA office. DRM cannot provide this information

Your COVID-19 Team


Scott Jaunich


Mary Parent

Tim Sampson
X

Before sending, please note: Information on www.drm.com is for general use and is not legal advice. The mailing of this email is not intended to create, and receipt of it does not constitute, an attorney-client relationship. Anything that you send to anyone at our Firm will not be confidential or privileged unless we have agreed to represent you. In particular, please note that Downs Rachlin Martin’s Labor & Employment Group exclusively represents employers/management in labor and employment matters. Employees seeking assistance with labor or employment issues should contact a law firm that represents employees and should not provide information about your situation to DRM.

If you send this email, you confirm that you have read, understand and agree to the terms contained herein.