Paycheck Protection Program (PPP)
The Paycheck Protection Program is an SBA loan to allow businesses to keep their workforce employed during the Covid-19 crisis. Applications for PPP must currently be made by June 30,2020.
Who may apply:
A business affected by the coronavirus pandemic and is classified as a “small business” as defined by the SBA. This includes all registered businesses with up to 500 employees.
How much can be borrowed:
A business may receive up to 2.5 times the average monthly payroll costs from 2019. Funds provided for payroll are capped at $100,000 annualized per employee (any non-cash benefits like health care, pension, etc are not included under the cap).
What can funds be used for:
Funds from the SBA Paycheck Protection Program may be used to cover payroll and/or mortgage interest, rent, or utility costs.
Payroll costs include employees’:
- salaries, wages, commissions, tips;
- payment for vacation, parental, family, medical, or sick leave;
- allowance for separation or dismissal;
- payment for employee benefits;
- taxes assessed on compensation of employees.
Loan Forgiveness:
In order to be eligible for loan forgiveness, a business must:
Funds used for the intended purposes (see above) within the 24 weeks immediately following your acquisition of the loan amount or by December 31, 2020 (whichever comes first);
- Employee and payroll levels must be maintained;
- Any changes made to the number of full-time employees or salaries between February 15, 2020 and April 26, 2020 must be restored by June 30, 2020.
UPDATE: the PPP Flexibility Act, has adjusted the forgiveness rules so that if a business can prove that it attempted to rehire its employees but was unable to do so, it may still be eligible for loan forgiveness.
RELIEF PROGRAMS FOR EMPLOYEES AFFECTED BY COVID-19 OR SHELTER IN PLACE
RELIEF PROGRAMS FOR EMPLOYERS AFFECTED BY COVID-19 or SHELTER IN PLACE
REMOTE WORK/TELECOMMUTING
OPENING BACK UP SAFELY
Employer Rights and Responsibilities
Case Results
- $61 million Verdict Two Lebanese-American employees subjected to outrageous racial and ethnic discrimination and harassment.
- $20 million Verdict Former timeshare sales representative was wrongfully terminated for reporting time share fraud on the elderly.
- $6.5 million Settlement Lawsuit brought by motorcyclist severely injured in accident caused by dangerous roadway condition.
- $6 million Settlement Wrongful death car accident case filed on behalf of family of woman killed in a head-on collision when defendant's car crossed the center line.
- $4.2 million Settlement Settlement reached with City of San Francisco for teen walking in crosswalk who suffered permanent brain injury after being struck by vehicle. City officials were informed intersection was dangerous and failed to make it safer.