Americans came into the COVID-19 crisis carrying cumulative student debt of nearly $1.59 Trillion. https://www.fool.com/student-loans/student-loan-debt-statistics/. So logically, among the many relief gambits included in the massive federal relief package enacted on March 27 (CARES Act) were provisions to help student loan borrowers. Deferment of Federally Backed Student Loans Relief for borrowers of student loans owned […]
On April 9, 2020, the Federal Reserve published new lending opportunities, essentially placing an additional $2.3 trillion into the economy as another answer to the COVID-19 pandemic under Section 13(3) of the Federal Reserve Act. The Main Street lending program, one of the new opportunities, provides $600 billion to small and medium-sized businesses that make […]
Gov. Andrew Cuomo issued Executive Order No. 202-14, that addresses remote witnessing, answering the call of estate planning attorneys across the State. The order, among other issues, authorizes remote signings of such documents as wills, powers of attorney and health care proxies. Prior to the signing of this order, these crucial estate planning documents, especially […]
State and local leaders have been as visible as ever making rules and creating support mechanisms to help us cope with the COVID-19 pandemic. Governor Cuomo is issuing executive orders at a dizzying pace. Attorney General James has been active in heading off would-be price gougers and stimulus bilkers. Onondaga County Executive McMahon accosts the […]
On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (CARES Act) was signed into law. The purpose of the CARES Act was to help America’s economy in response to the COVID-19 pandemic. While the CARES Act is over 800 pages and has many different benefits, two loans that the Small Business Administration […]
If you know me personally, you may have heard me say that sometimes life gives you a necessary dose of perspective in a particularly painful way. I have been thinking about that a lot these last few weeks. I would be lying if I said that life is easy right now. This is hard, friends. […]
On March 27, Congress passed the largest stimulus bill (or emergency relief, depending on who you ask) in United States history. We previously provided an update covering one aspect of the CARES Act, the Paycheck Protection Program, which provides relief to small businesses in the form of subsidized loans. This update will provide an overview […]
On March 21st. Governor Cuomo issued Executive Order 202.9 directing the New York Department of Financial Services (DFS) to create emergency regulations to provide some much-needed cushion to New Yorkers who have suffered financially as a result of the Covid-19 emergency and response. On March 24, DFS promulgated the new regulations with the aim of […]
The Federal coronavirus stimulus bill, which was just passed, contains relief for small businesses who are facing uncertain times. One provision that’s getting a lot of attention is the Paycheck Protection Program (PPP), which is specially designed to help out small businesses. This program is an expansion of the existing SBA 7(a) loan program, and […]
It’s now been one full week since the implementation of Governor Cuomo’s order that all but the most essential of New York’s businesses must transition to remote work or temporarily close in order to flatten the curve and protect our health and safety. It’s trite to say that these are trying times, that it’s unprecedented. […]