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Joshua M. Bowman and Joseph Y. Wang published in New England Real Estate Journal on the Paycheck Protection Program Flexibility Act
Joshua M. Bowman, partner in the firm’s Real Estate and Corporate departments and chair of its Hospitality Practice Group, and Joseph Y. Wang, partner in the firm’s Real Estate Department and member of its Hospitality Practice Group, were published in the New England Real Estate Journal (NEREJ) on June 19, 2020. Their article, “Paycheck Protection Program Flexibility Act – Needed changes to CARES Act,” covers the Paycheck Protection Program Flexibility Act, which was signed into law on June 4, 2020, and addresses faults that the hospitality industry found when trying to utilize of the Paycheck Protection Program (“PPP”) as originally enacted in late March — such as the original requirement that loan proceeds be spent within 8 weeks of disbursement in order to be eligible for forgiveness. Additionally, on June 11, 2020, the Small Business Administration (SBA) published additional guidance incorporating provisions of the Act into its interim final rules.
