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Publications
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04.12.2021A Checklist for Companies Considering Whether to Speak on Political IssuesUpdatesCurrent events have sparked a significant change in private businesses' political behavior, as companies and their executives shift from nonpartisan observers to leaders taking on political and social causes. While companies may face pressure from some stakeholders to speak out on every issue of the day, that level of engagement may not be feasible or productive. In this update, we provide a road map for companies and their executives to follow when deciding whether and how to engage in political and social issues.
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04.13.2021SEC Speaks Out on SPACsUpdatesThe accelerating trends of Special Purpose Acquisition Companies (SPACs) going public and private companies being acquired by SPACs do not appear likely to abate anytime soon. In response, the SEC made several public statements in recent weeks highlighting their scrutiny of SPACs and the risks for all parties involved. This update analyzes the SEC’s recent public statements and identifies key issues for SPAC participants to consider.
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01.20.2021SPACs: Frequently Asked QuestionsLawyer PublicationsAmong other things, 2020 will be remembered as a year that saw a boom in the use of Special Purpose Acquisition Companies (SPACs) as a robust alternative to an initial public offering (IPO). A SPAC is a company formed to raise capital in a public offering, with the offering proceeds serving as a blind pool of funds held in trust to finance the acquisition of one or several unidentified targets.
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01.12.2021Portal Opens for New PPP Loans With New SBA Guidance and Application FormsUpdatesThe Small Business Administration (SBA) has announced that they will reopen their portal for Paycheck Protection Program (PPP) loans for eligible borrowers beginning the week of January 11, 2021, after being shut down since August 8, 2020, when the prior congressional authorization for PPP loans expired.
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11.2020 – 12.2020SBA Announces New Guidance on Consent Requirements for PPP Borrower Changes of OwnershipArticlesThe Small Business Administration (SBA) released a procedural notice (the Notice) on October 2, 2020, that describes the process and requirements that Paycheck Protection Program (PPP) borrowers and lenders must follow when ownership of the PPP borrower is changing.
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12.24.2020Another Round of PPP Loans Approved by Congress, With Yet Additional Changes to the ProgramUpdatesThe U.S. Senate and House of Representatives, on December 21, 2020, approved H.R. 133, referred to as the “Consolidated Appropriations Act, 2021.”
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11.04.2020SBA Questions Borrowers About the Necessity of Their PPP LoansUpdatesOver the course of the last week, the Small Business Administration (SBA) has reportedly begun quietly questioning borrowers who had received Paycheck Protection Program (PPP) loans about the “necessity” of their loans.
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10.06.2020SBA Announces New Guidance on Consent Requirements for Changes of Ownership of PPP Loan BorrowersUpdatesThe U.S. Small Business Administration (SBA) released a procedural notice (the Notice) on October 2, 2020, that describes the process and requirements that Paycheck Protection Program (PPP) borrowers and lenders must follow when ownership of the PPP borrower is changing.
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08.31.2020SEC Adopts Amendments to Expand Accredited Investor DefinitionUpdatesThe U.S. Securities and Exchange Commission adopted amendments on August 26, 2020, to update the definition of “accredited investor” in Rule 501(a) of the Securities Act of 1933.
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08.10.2020New PPP Loan Forgiveness Guidance Issued in Advance of Opening of SBA’s Loan Forgiveness PortalUpdatesWhile debates in Congress continue regarding extending or providing additional COVID-19 relief legislation, the Small Business Administration (SBA), U.S. Department of Treasury (Treasury), and lenders under the Paycheck Protection Program (PPP) are preparing for the next wave of activity for PPP loans.
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06.18.2020SBA Releases New PPP Loan Forgiveness Application Forms Paycheck Protection Program Flexibility Act GuidanceUpdatesThe Small Business Administration (SBA), on June 16, 2020, released new loan forgiveness application forms and corresponding instructions for borrowers seeking forgiveness of their Paycheck Protection Program (PPP) loans.
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06.09.2020The Federal Reserve’s Main Street Lending Program: What Borrowers Need to Know (Updated June 9, 2020)Updates
This update amends our prior publication on June 5, 2020, and contains new information based on additional guidance provided by the Federal Reserve on June 8, 2020.
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06.05.2020The Federal Reserve’s Main Street Lending Program: What Borrowers Need to KnowUpdates
This update amends our prior publication on May 4, 2020, titled Federal Reserve Announces Changes to Main Street Lending Program and contains new information based on additional guidance provided by the Federal Reserve on May 27, 2020.
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05.29.2020Proposed Legislation May Extend Period for PPP Loan Forgiveness—Meanwhile, SBA Releases Yet More GuidanceUpdatesThe U.S. House of Representatives, on May 28, 2020, passed with bipartisan support H.R. 6886, referred to as the Paycheck Protection Program Flexibility Act of 2020.
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05.18.2020SBA Releases PPP Loan Forgiveness Application and Implicit Guidance on Requirements for Loan ForgivenessUpdatesOn May 15, 2020, the Small Business Administration (SBA) released an application for loan forgiveness under the Paycheck Protection Program (PPP).
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05.15.2020SBA’s Expanded “Safe Harbor” May Reduce, But Does Not Eliminate, Enforcement Risks for Businesses Seeking PPP LoansUpdatesBorrowers who, together with their affiliates, received Paycheck Protection Program (PPP) loans in an aggregate amount less than $2 million will be deemed to have made their certification that the loan was “necessary” in good faith, according to new guidance issued by the U.S. Small Business Administration (SBA).
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05.04.2020Federal Reserve Announces Changes to Main Street Lending ProgramUpdatesThe Federal Reserve Board released updated guidance on its Main Street Lending Program (Main Street Program) on April 30, 2020. Authorized under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and previously announced on April 9, 2020, the Main Street Program will indirectly offer loans to small- and medium-sized businesses to alleviate economic distress caused by the spread of COVID-19.
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04.23.2020Congress Approves New Funding for PPP Loans and EIDLs; SBA Issues Updated FAQ Regarding “Necessity”UpdatesThe Coronavirus Aid, Relief, and Economic Security Act (CARES Act), signed into law on March 27, 2020, established the Paycheck Protection Program (PPP), a loan program that made $349 billion available to small businesses using the Small Business Administration’s (SBA) existing 7(a) loan program.
Presentations
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06.09.2021The ESG Cutting Edge: Reporting & EngagementWebinars
A proxy season post-mortem on all the latest ESG issues. The program covered the tools needed to nimbly move forward in a rapidly shifting environment.
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07.21.2020Preparing for M&A in a COVID-19 World: Guidance for Potential SellersWebinarsThis webinar discussed how COVID-19 has affected the M&A market and provided insights and practical advice for companies considering or preparing for transactions in today’s environment.
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04.16.2020Answers to COVID-19 Questions: What We Are SeeingWebinars
This webinar discussed the many matters that businesses in Oregon are addressing as a result of the COVID-19 pandemic. Our attorneys provided answers to questions we have been receiving from our clients.
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04.2020The CARES Act Webinar SeriesWebinarsJoin us for a timely webinar that will address key considerations for businesses exploring the financing opportunities made available under the CARES Act.
