Photo of Amy Laderberg O'SullivanPhoto of Paul J. PollockPhoto of Jeffrey C. SelmanPhoto of Olivia Lynch

With the Paycheck Protection Program (PPP) and funding for the Small Business Administration’s (SBA) Economic Injury Disaster Loans (EDIL) unlocking a combined total of over $360 billion for loans to cover urgent business costs, including payroll costs, employee benefits and leave, mortgage interest payments, debt refinancing, rent and utilities, the CARES Act has extended an essential lifeline targeted at eligible small businesses. Now companies are scrambling to determine whether they qualify, what they are entitled to, and how to access this loan financing to sustain their businesses and their workforce during the COVID-19 pandemic. With many companies unfamiliar with the SBA’s complex rules for determining small business status, the expansion of eligibility under the PPP, and differing threshold requirements under the PPP and EIDL, companies first need answers to an immediate question: Am I an eligible business under the PPP, EIDL, or both?

To help guide companies through this threshold question, we have initially prepared a step-by-step PPP eligibility questionnaire that includes the relevant inquiries and initial documents and information necessary for this analysis as well as discusses overviews on PPP loan terms and application process.

The Trump Administration has indicated that the small business loan programs of the CARES Act could be up and running as early as April 3, 2020. We will update this guidance once the SBA issues its regulations and gives greater insight into how the Paycheck Protection Program will be implemented in practice.

We’ll be discussing this topic further today, March 31, at 4 pm. Click here to register.

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Photo of Amy Laderberg O'Sullivan Amy Laderberg O'Sullivan

Amy Laderberg O’Sullivan is a partner in the firm’s Washington, D.C. office, a member of the Steering Committee for the firm’s Government Contracts Group, and former chair of the firm’s Diversity Council. Her practice involves a mix of litigation, transactional work, investigations, and

Amy Laderberg O’Sullivan is a partner in the firm’s Washington, D.C. office, a member of the Steering Committee for the firm’s Government Contracts Group, and former chair of the firm’s Diversity Council. Her practice involves a mix of litigation, transactional work, investigations, and counseling for corporate clients of all sizes and levels of experience as government contractors. On the litigation side, she has represented corporate clients in bid protests (agency level, GAO, ODRA, Court of Federal Claims, Court of Appeals for the Federal Circuit, as well as state and local bid protests in numerous jurisdictions), size and status protests before the U.S. Small Business Administration, claims litigation before the various Boards of Contract Appeals, Defense Base Act claims litigation at the Administrative Law Judge and Benefits Review Board levels, civil and criminal investigations, and she has been involved in complex commercial litigation.

Photo of Paul J. Pollock Paul J. Pollock

Paul J. Pollock is a partner in the New York office of Crowell & Moring and concentrates his practice on mergers and acquisitions and corporate finance. He provides ongoing representation to middle market private equity sponsors, family offices and their portfolio companies, as…

Paul J. Pollock is a partner in the New York office of Crowell & Moring and concentrates his practice on mergers and acquisitions and corporate finance. He provides ongoing representation to middle market private equity sponsors, family offices and their portfolio companies, as well as public and private companies that are not sponsor backed. Paul’s industry experience includes representing clients in financial services, manufacturing, telecommunications, fintech, software products, publishing and entertainment, with recent emphasis on the healthcare and biotech industries.

Photo of Olivia Lynch Olivia Lynch

Olivia L. Lynch is a partner in Crowell & Moring’s Government Contracts Group in the Washington, D.C. office.

General Government Contracts Counseling. Olivia advises government contractors on navigating the procurement process, compliance and ethics, commercial item contracting, accessibility, supply chain assurance, and…

Olivia L. Lynch is a partner in Crowell & Moring’s Government Contracts Group in the Washington, D.C. office.

General Government Contracts Counseling. Olivia advises government contractors on navigating the procurement process, compliance and ethics, commercial item contracting, accessibility, supply chain assurance, and various aspects of state and local procurement law.